Least probable resource for supply curve
The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship. Can anybody suggest me the proper explanation for given problem regarding Economics generally?
The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
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When do we state that there is an excess demand for a commodity in the market?
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I have a problem related to price elasticity of demand. The question is illustrated as "After the price of movie tickets rose, I spent less money on movie tickets." What can you infer regarding my price elasticity of demand?
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