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Suppose there are profit-maximizing,competitive buyers and sellers of labor in an industry,and the amount of capital is fixed for each firm.Explain under what condition the output price will equal the wage rate.
Kiva
A platform that allows people to lend money via the internet to low-income entrepreneurs and students in over 80 countries.
Developing Countries
Nations with a lower level of material well-being, industrialization, and often a lower standard of living, focusing on economic growth and development.
Venture Philanthropy
An approach to charitable giving that applies the principles of venture capital financing to achieve philanthropic goals, focusing on results and efficiency.
Financial Support
Refers to funding provided to individuals, businesses, or organizations to assist with operational costs, projects, or specific needs, coming from various sources like loans, grants, investments, or subsidies.
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