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What is meant by minimum wage?
The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of supply and demand in a free market. In most cases, the minimum wage acts as a price floor. Every country sets its own minimum wage laws and regulations, and most of the countries have no minimum wage.
what are the advantages of monopsony?
List four characteristics of monopolistic competition
Capital formation: Growth Economists believe that accumulation of capital is one main source of growth of an economy. Emphasis is given to the accumulation of more capital pe
a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
This is also known as sales force Opinion Method. In this method instead of consumers the opinion of the salesmen is sought. It is sometimes referred as the grassroots approach as
Employment The calculations of human input in the production procedure. In the United States, there are two major measures of employment, as determined by the Bureau of Labor
Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
Problem: i) What is meant by ‘own' price elasticity of demand? What factors are likely to affect the size of this elasticity? ii) A publicly owned bus line is running at
Describe Ionization energy or ionization potential and The factors affecting the ionization energies
could the village prepare 14 campsites and grow 350 pawpaws?explain your answer.
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