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What is the line on the production possiblities graph that shows the maximum possible output?
where L is labor, K is capital, and N is land. In this economy the factors of production are in fixed supply with L = 100, K = 100, and N = 100.
Ellucidate how does technology affect the dissemination of information throughout the market.
Can you explain how FISCAL POLICY (making changes to government spending and taxes) would affect Aggregate Demand (AD) How do these two mechanisms of expansionary policy differ
Sometimes one's choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer. For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be ..
Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why?..
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
Keynesian thinking dominated US (and other developed-country) policy-making well into the 1970s, although the "classical" counter-arguments kept up a steady criticism:
Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers to set a price that depends on realized value. For example, suppose you're trying to sell a company a new accounting system that will reduce co..
the law of demand states thata. consumers buy a good based on many other factors other than the price of the goodb.
A Monopolist is deciding how to allocate output between two markets. The two markets are separated geographically. Demand and marginal revenue for the two markets are given by:
After a certain point, the more hours you spend studying economics per day, the less you will learn with each added hour. D. the more hours you spend studying economics per day, the more you will learn with each added hour.
A factory owner buys a tractor and a lorry. A tractor costs £1,060,000 and is estimated to have a life of 4 years and a scrap value of £20,000. Using the equal installment method
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