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What is the difference between 'scarcity' and 'shortage'?
'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce goods, we called this phenomenon 'scarcity'. On the other hand, 'shortage' is explained as the situation where the quantity demanded is greater than the quantity supplied because the market price is lower than the equilibrium price.
WHAT IS PPC
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
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Impact of government legislations on business in india Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and
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