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Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?
a. no change, equilibrium would prevail
b. The quantity demanded of garbanzo beans would fall to zero.
c. shortage of 2000 garbanzo beans
d. surplus of 2000 garbanzo beans
Why might external economies of scale be of interest to developing countries?
Consider an economy that produces only three types of fruit: apples, oranges & bananas. In the base year the production & price data are as follows: Fruit
what is the meaning of the statement ''money is not merely a veil or wrapper''?
Compute the following probabilities a) If Y is distributed N(1,4) find Pr(y ? 3) b) If Y is distributed N(3,9) find pr(y>0) c) If Y is distributed N (50,25) find pr(40?Y?5
impact of change in government expenditure and tax on fiscal policy
circular flow of income in a single sector,two sector,three sector and four sector
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
A government subsidy to the producers of a product: A. reduces product supply. B. increases product demand C. increases product supply. D. reduces product demand.
explain the terms abnormal profits and normal profits
Q. Money market with inflation and rising money supply? Figure: The money market with inflation and rising money supply If we let π M refer the growth rate in money
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