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Explain the how the classical school views the role of markets and government intervention in fighting business cycles
The classical school believes in the smooth functioning of market mechanisms, and that they work best when left alone. They usually do not think governments should intervene, and think that often government intervention makes things inferior.
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
exams?
Let {(y i * ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where y i * and x i satisfy the linear relationship y i * = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈
different types of production funtion and curve given by different economist
Qdx=-30p+0.10+4pr+4t
Directions: You should legibly handwrite or type the answers to the following questions on a separate sheet of paper. These must be submitted in class (not via email unless you hav
when does price and output determined in the unregulated monopoly
When is tax to society cause a deadweight loss? Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax A tax causes a deadweight loss to society, since les
show this in a pie chart age = under 20|number of people = 20.90
Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the
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