Welfare definition of economics
Explain the welfare definition of economics? Why is it criticized?
Provide a brief introduction of the term Margin of Safety?
A firm which provides its workers along with substantial general training tends to: (1) retain such individuals by paying them the relatively highest wage premiums. (2) require workers to sign legal contracts of peonage and indenture. (3) increase wor
The value of marginal product of a variable resource is marginal physical product of it multiplied with: (w) the marginal revenue from the sale of its addition to output. (x) its cost. (y) the price of the product. (z) one.
Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Q : Advantages and disadvantages of Survey What are the advantages and disadvantages of survey techniques?
What are the advantages and disadvantages of survey techniques?
What did professor Marshall illustrates about Law of Demand? Answer: According to Marshall “the amount demanded raises along with reduces in price and diminish
Explain the Price Elasticity of Demand.
What are the important areas of decision making?
Derived demand curves for labor slope downwards since: (w) additional workers are usually less skilled and thus deserve lower wages. (x) when another resource is fixed, hiring more workers ultimately reduces output per hour worked. (y) higher wages us
Explain the forecasting demand for a new product.
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