Microeconomics The concept of marginal utility reflects the additional utility that a buyer receives for an additional unit of a good. In this example, Amy is spending an extra dollar if she buys either a bracelet or a soda. If she has an extra doll Continue Reading...
This case does not directly illustrate this, because productivity increased 5%. If in the next quarter that productivity gain shrinks, that would demonstrate more clearly the law of diminishing marginal productivity. This is because, for example, if Continue Reading...
Firm, Labor Markets, and Imperfect Information Economics Perfect Competition and Monopolistic Competition A perfectly competitive market does not have barriers to entry or exit and is characterized by many producers and many consumers, all of who Continue Reading...
Differentiations are always brought up by the contemporary mainstream economists and their theories regarding ontological questions and assumptions or mere recognition regarding conformity of preference structures regarding some rules can be approx Continue Reading...
This is what has led to so many foreigners working in the country already. The foreign workers are therefore a symptom of a greater problem. This problem is not macroeconomic failure -- the Saudi economy is robust and creates jobs -- but is simply d Continue Reading...
