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Which of the following is true in a market economy?
1- The distribution of wealth is equal.
2- Resources are used efficiently.
3- Central planners decide answers to the basic economic questions.
4- Information for production and distribution decisions passes directly to buyers from the government.
Consider a market characterized by the following inverse demand and supply functions: PX = 50 - 4QX and PX = 10 + 2QX. Compute the surplus producers receive when a $30 per unit price floor is imposed on the market.
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
Critical Thinking: Last year Congress passed a bill creating a new national health care system that is not yet fully explained. What principles of economics relate to this decision Describe how each relates and what issues must we consider.
Consider some of products which are widely advertised on television. By what type of firm is each produced the perfectly competitive firm, an oligopolistic firm, or another kind of firm? How many major products can you think of that are not advert..
xyz corporation is a manufacturer of widgets. over the past several months it has been selling its widgets for 100 each
assume firm ys production function is given by the following cobb douglas equationq 0.5 x l0.6 x k0.5where l denotes
Which of the following fiscal policy changes would have a larger overall negative impact on AD and RGDP? Explain your answer in a paragraph or two with credible logics and analysis.
People sometimes argue that imports should be limited by government policy. Suppose a government quota on the quantity of imports causes net exports to rise. Using the circular flow diagram as a guide, explain why total expenditures and national o..
Acc to lot of theories when the interest rate rises, then the corporates stops taking the loan with which the liquidity in the mkt. decreases which increases the value of money and hence inflation will decreased
give an example of a good that you have consumed for which your marginal utility increased with the amount of if you
Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
An article in BusinessWeek warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to "export its way out of trouble" by oversupplying everything from automobiles to semiconductors.
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