What is the law of supply

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Reference no: EM133201488

Assignment:

Questions:

1. Can you help me understand this Economics question?

2. What is the law of supply? Give an example of how you observed the law of supply in the "real world".

3. What is the "law of diminishing marginal utility"? Give an example.

4. List and discuss at least three requirements for perfect competition

5. What is meant by "Antitrust regulations" Why is it important?

6. What is the Lorenz curve? Why is it so important?

7. Explain this two items: Import Quotas, GATT.

Reference no: EM133201488

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