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Q. The guiding function of prices tends to keep resources flowing toward their most highly valued uses. true or false?
Q. What matters is not the absolute abundance of factors, but their relative abundance. Poor countries have an abundance of labor relative to capital when compared to more developed countries.
Graph the Bens consumption function also find their households marginal propensity to consume.
Suppose that you are in a committee meeting of the United Nations
Calculate the year in which income every capita in the United States was equal to year 2010 income every capita in India.
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
Illustrate what fraction of the total variation in trades of Bright Side remains unexplained.
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
If you were a manager at PepsiCo, would you try to convince your colleagues that introducing the new soft drink is the most profitable strategy.
firm competing in a monopolistic competitive market. What conditions exist when economic profits are maximized.
Exportof goods and services to foreigners is $1 million and import of goods and services from foreigners is $1.5 million.
What reliance performance would be measured efficient. Elucidate reliance behavior which would be considered excessive.
A Fenway park, home of the Boston Red Sox, seating is limited to 39.000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue.
Find the profit-maximizing choice of q for this miniature farm; also compute profits that will be earned at this choice of q.
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