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You need a new table for your kitchen, you are willing to pay $400 for it. You aren't good with tools or wood working.
I'm good with wood and can make a table for you. Between the material and time, it'll cost me $200. I sell you the table for $300.
Use this example to illustrate the gain from trade and why the market can generate surplus and efficiency. In particular, discuss why you are likely better off buying the table from me rather than making it yourself.
(Note: it's a short question, no need to write 25 paragraphs here)
The voyages of Zheng He reveal a powerful, accomplished and restored Confucian state and civilization in China that was at least equal to
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A company has price of 384.48 with 22502 units when calculating QS=QD. When MR=MC it is 595 and 13535. How can the effectiveness of switching from perfectly to imperfectly competitive markets be assessed? Which one is better in this case?
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