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Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located.
a. at the top corner of the curve
b. near the middle of the curve
c. at the bottom corner of the curve
d. outside the curve e. inside the curve
Desired Aggregate Spending Desired aggregate spending refers to the volume of purchases of the currently produced goods and services that all spending units in the economy wish
benefit of GDP
constructing a opportunity set and budget line for $15 lottery ticket and intending on buying a candy bar for $0.75 and peanut bag for $1.50
1. if the marginal cost of seating a theatergoer is $5 an the elasticity of demand is -3, the profit maximizing price is? 2. A firm determined that its total cost of production
There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou
This problem is based on the Ricardian Model. Assume that 2 countries, Stormlands and Reach, use White Walkers' labor to produce 2 goods, lumber and wheat.
What can be the topic to make assignment on indian macro economics
Define the points of individual choices makes and interact. A. How individuals make choices: • Scarcity • Opportunity cost • Trade-offs • Marginal analysis B. Ho
How do you calculate variable unit costs and total annual costs? Ans) Annual units sold, 1000. Raw materials yearly cost 650. Building rent yearly cost 9000. If sales volume enh
What do you mean by Gross Domestic Product? Gross Domestic Product (GDP): It measures the value of economic activity which is output produced, into the geographical bound
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