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What is the difference between 'quantity supplied' and 'supply'?
There is a distinction among supply and quantity supplied. Supply explains the behavior of sellers at every price. At a particular price, there is a particular quantity supplied. The term 'quantity supplied' makes sense only in relation to a exacting price.
Half the members of a fishing tribe catch four fish per day and half catch 10 fish per day. A group of 10 members could build a boat for another tribe in one day and receive a paym
Will improving customer service result in higher stock prices for the companies providing the better service? When a companys satisfaction score has improved over the prior years r
Economic functions of money - A medium of exchange This is its most important role. Without money we would live in a barter economy where we would have to trade goods and
Explain the difference between productive and allocative ( economic ) efficiency. Explanation of productive efficiency, e.g. output at AC minimum Define to the effect th
An owner can lease her building for $100,000 per year for the next three years. The explicit cost of maintaining the building is $35,000, and the implicit cost is $50,000. All reve
Who sets the prices in the market and what is the nature of competition? Is it buyer versus sellers or buyer versus buyers? What happens if the price is too high or too low? Is the
Write a 4-5 page paper, double-spaced, Arial 12pt font, 1 inch margins all around (top, bottom, left, and right) that addresses the following news event summarized below In a to
Determine the principle of equity The principle of equity is that a tax must be fair and the tax is levied on those with the ability to pay tax. The principle of efficiency
Suppose that this year's the money supply is $500 billion, nominal GDP is $10 trillion, and real GDP is $5trillion. a. What is the price level? b. What is the velocity of money
How to prepare a a project on a new product in africa.
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