It is a term which is applied to various policy, usually within a governmental or political setting (such as the welfare state and study of social services).
Answer:
Many countries use GDP per capita to compare the quality of life in different countries.
Explanation:
GDP per capita is gross domestic product divided by the number of inhabitants of a country. GDP is the sum of all goods in a country, and the higher the GDP, the more it demonstrates how developed that country is, and can be classified among poor, rich or developing countries.
Per capita GDP is used as an indicator of a country's quality of life, because the richer the country is, the more its citizens benefit. For this reason, we can conclude that many countries use per capita GDP to compare the quality of life of different countries.
Answer:
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Explanation:
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The attached graph shows the required curves to be drawn. One of the curves is called the Marginal Revenue Curve.
<h3>What is a marginal revenue curve?</h3>
At the market price, the marginal revenue curve is a horizontal line, suggesting completely elastic demand, and it is equal to the demand curve.
Monopoly occurs when one corporation is the exclusive vendor of a distinct product in the market.
Learn more bout marginal revenue curve at;
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Full Question:
The graph shows the market for smart rackets.
Suppose the profit-maximizing output is 160,000 smart rackets.
Draw the firm's marginal revenue curve. Label it MR.
Draw the firm's marginal cost curve. Label it MC.
Draw a point at the profit-maximizing output and price.
Draw a shape to show the firm's economic profit. Label it.