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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
Question: Third degree price discrimination Suppose that a monopolist faces two markets with demand curves given by D(p 1 ) = 100 - p 1 D(p 2 ) = 100 - 2p 2 Assume that
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
DETERMINATION OF FIXED EXCHANGE RATE: In the flexible exchange rate regime, exchange rates are highly volatile which leads to uncertainties in the international payments/trans
what is consumer''s choice involving risk.preference toward risk.
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
Ask qdescribe average and marginal revenue under imperfect competitionuestion
Business sell to households in the resource markets, but households sell to businesses in the product market
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
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