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List two advantages of markets identified by the authors of the text.
Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another benefit identified in the text is that markets encourage innovation and creativity.
Q=2h find the marginal point. where q is the quantity of electricity in MW-h and h is the amount of water (in 100s of liters per hour)
example of cournot model
During its current tax year (year one) a pharmaceutical company purchased a mixing tank that had a fair market price of $120,000. It replaced the an older, smaller mixing tank that
1. Suppose we observe that the price of soyabeans goes up while the quantity of soyabeans sold goes up as well. Use the supply and demand curves to illustrate two possible explanat
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
Input-Output Models Input-output models are used in economics of education in studies of cost-quality and education-labour-earnings relationships. Different levels and forms
If, for a specific project alternative, the discount rate equals the Internal Rate of Return, then the (discounted) Benefit Cost Ratio will equal unity (i.e., BCR=1.0). Define I
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
explain how scarcity impacts choice 2.expain the three steps process in economic analysis
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
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