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The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among prices and the quantity supplied. In other words, the supply curve has a positive slope that represents that as price increase (reduces) so too does quantity supplied.
I have 3 questions regarding the economics of potlatch, 1.) What is the economic purpose of potlatch? I don''t fully understand this question... I believe potlatch is a gift econ
explain land as a part of the four factors of production
Stock Market: A place where shares of joint stock corporations are sold andbought. Most modern stock markets no longer have a physical presencehowever rather connected computer net
Why do demand curves generally slope downward? The demand curve slopes downward because in general, the higher the price of the good, the fewer people will need to buy it.
What is Laffer curve The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government wo
draw the demand curve,when there is rise in the price of a product on the demand of the product
why is elasticity important for beachfronf properties
A portion of the demand schedule for wax candles (per case) is shown below. Px $50 $30 $10 Qx 500 600 700 What is the demand curve (straight line) that corresponds to the schedu
Monopoly is that form of market where there is only one firm producing a particular product. Being the sole supplier, the monopoly firm has the power to control prices and output t
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
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