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State the example of price and price level
Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level - it would be a weighted average of prices of the goods sold that day and weights would be equal to number of every good sold. Perhaps basket contains 100 liters of regular milk though only one frozen cake. Price of regular milk will then have a weight of 100 whereas price of frozen cake wold have a weight of 1. Changes in price of milk will then have a greater influence on price level than changes in price of frozen cake.
Explain the factors which would affect the price of a good. As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shif
assingnment on production cost
Name the five types of capital. The five types of capital are: natural capital, manufactured capital, human capital, social capital and financial capital.
income generation in a static and dynamic setting
Janet decides to play a game with her children, Jay and Jill (who are fraternal twins) and Mo. Each child is in their own room and cannot communicate with each other. Suppose Jill
what makes it differ from other market structures
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
how to find least cost combination of factor inputs given the production
What is the difference between decreasing marginal returns and negative marginal returns?
How many half-lives are required for the concentration of reactant to decrease to 1.56% of its original value?
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