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What is the equilibrium in the labor market? Explain briefly.
Equilibrium in the Labor Market
a. The market labor of demand curve is the horizontal total of the individual labor demand curves of all makers.
b. Labor is paid equilibrium value of this at the marginal product, and the value of the marginal product of the previous worker hired into the labor market as an entire.
what is international pricing method?
1. The price of a U. S. produced hammer is $5. The exchange rate with Malaysia is 3 Ringgit/1$. What is the current price of the hammer in Malaysia? (Assume no transportation cost.
No new substitutes for the commodity If some new substitutes for a commodity appear in the market, its demand normally declines. This is quite natural, since with the availabil
Q. Simon satisfying behaviour model? The behavioural approach as developed in particular by Richard Cyert and James G. March of the Carnegie School, lays emphasis on explaining
what is demand estimation
Harrod Domar Theory A basic principle that has been stressed by both Harrod and Domar in their growth models and which has been incorporated in all modern growth theories is th
How does economic theory contribute to managerial decisions?
wHAT IS THE SIGNIFICANCE OF EXPECTATION ELASTICITY ?
CLASSICAL VIEW ON UNEMPLOYMENT The classical economists as we observed in Unit 1 of this course, were of the view that full employment prevailed in the economy all the tim
A profit-maximizing firm faces the following options for hiring workers: a) Assume the firm has limited space so that it can only hire one worker. Which type of employee sh
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