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The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
is economics a positive science
How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?
Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
0.767 g of phosphorus and 0.650 g of chlorine were allowed to react. After the reaction was complete, all of the chlorine had been consumed, but 0.650 g of phosphorus remained. How
Deficiency of iodine Inadequate iodine also leads to dry skin, loss of hair, exhaustion and sluggish reflexes. For the developing fetus, infant and young children, iodine deficienc
The End of the Malthusian Age We clearly no longer live in a Malthusian age. For at least 200 years improvements in the efficiency of labor made possible by new technologies a
how do you find the average fixed costs using total fixed costs and total product?
Differentiate the definition of economics as given by Prof. Marshall and Prof.Robbins. Illustrate the concept of production possibility curve .How PPC is helpful to solve econom
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
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