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Explain what the phrase “price rationing” means.Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds quantity supplied.
a. Determine Australia’s market equilibrium for TV sets. i. (1) What are the equilibrium price and quantity?
Various studies have concluded that the demand for movie cinema attendance is responsive to advertising. A study of one company, with movie cinemas in three neighbouring towns, sh
Q. Distribution of income? Distribution:Distribution of income reflects the process by which real output of services and goods produced by the economy is allocated to different
why men and womens indifference curves are different
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
The Healthy Spring Water company sells bottled water for offices / homes. The price of the water is $20 per 10 gallon bottle and the company currently sells 2,000 bottles per day.
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
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