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When the substitution effect of a higher wage rate is more powerful than the income effect, in that case the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases as income rises. (3) human capital eff
Explain the Economies of Scale.
Illustrates the ways in managerial economics bridges between real business practices and traditional economic theory?
What is Diminishing Returns to Scale?
Decreases in derived demands are best demonstrated while: (1) illegal aliens reduce equilibrium wage rates for unskilled workers. (2) swim suit sales plummet at the ends of summer vacations. (3) undocumented construction workers begin leaving the Unit
Please help me to solve the problem of economic that is given below: Economic capital would comprise: (w) corporate bonds. (x) money. (y) machinery. (z) sports cars. Can someone
Explain the external economies of scale.
When this purely competitive labor market is firstly into equilibrium at D0L, S0L, raise in labor productivity will result within equilibrium being attained at: (w) D0L, S0L. (x) D1L, S0L
Illustrates the characteristics of Oligopoly?
Explain the assumptions of Law Diminishing Returns.
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