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Perfect competition is a market structure containing many sellers, all selling all selling almost identical products, such as vegetables like corn to buyers. monopolistic competition is a market structure...
The primary issue facing the business right now is the customer complaints about service time, which is likely contributing to the decline of sales revenue. By installing the new machine, the business hop...
Negative economics growth is likely to be a cause of rising demand deficient unemployment. This unemployment causes an increase in total government spending in the forms of Job Seekers Allowance as an exp...
Opportunity cost is something that we think about everyday but we don't always use that word. It is defined as the benefits lost from the next best alternative choice.This sounds wordy, but in an example ...
Skilled workers are likely to have higher productivity so the firm will gain more revenue. They can also demand more pay as they are inelastic in supply (can draw a diagram to show this however not needed...
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