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1. Explain what are price ceilings and price floors and how they effect the market for a good or service. Also show through graphs, if they cause any inefficiencies in a perfectly
Recent developments in demand theory
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
what is microeconomics
what is non- collusioligopoly and how its price and output is determined
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
2ALBr3+3K2so4--->6KBr+1Al2(so4)3
Explain the effect of increased money supply on bond prices
Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic varia
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