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Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
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friedman and savage hypothesis
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
Suppose that the price of schooling is $20 per year of schooling and it suddenly rises to $40. Compute the point price elasticity of demand at the initial price level and at the fi
Q. What is Monetarism? Monetarism:Monetarism was a right-wing economic theory (associated with work of Milton Friedman, in particular) which believed that inflation could be co
what is the effect on the market for dvd players if the price of dvd rises
Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
why is elasticity important for beachfronf properties
economics of uncertainty with examples
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