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What is total surplus in net gain?
Total surplus in net gain:
The total surplus generated into a market is the total net gain to consumers and producers through trading into the market. This is the sum of the producer and the consumer surplus.
The purposes of consumer surplus and producer surplus can assists us understand reason markets are an effectual way to organize economic activity.
Aggregate Supply (AS) We now shift our attention to the supply side of the macroeconomy. Aggregate supply explains the production and pricing side of the economy and the behav
Explain the term production function in the economics. Production Function A production function is the association between the quantity of inputs a firm utilizes and the qu
Need answers for problems after chapters 10, 11 & 12 for Macroeconomics in Aplia.com. Need today or tomorrow. Can you help?
You need to choose between two replacement compressor options. One costs $6400 and is 70% efficient. The other costs $9800 and is 85% efficient. Both have an average life of 8 year
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Illustrate about the Effective exchange rate Assume that we are interested in external competitiveness of a country, say Japan. To do this we could look at evolution of a speci
How can an economy achieve mutual gain from International Trade?
HOW CAN A COUNTRY MAINTAIN EQUILIBRIUM GDP IN AFOREIGN TRADE?
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Shortage, Surplus and Price Mechanism: A shortage is the situation in which the demand exceeds supply, which means producers are unable to meet the market demand for the produc
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