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Explain the difference between a change in quantity demanded and a change in demand. Change in quantity demanded" refers to movement with the demand curve. For instance, if th
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
What mass (in grams) of O2 gas is present in a 36.0 L container at 673.0 K at 23.8 atm O2 pressure if the gas is ideal?
to what extent are interest rates determined by the economic theory
Marginal Product Theory a. What is the MC of output in the short-run? b. What is the MC of labor (employed)? c. What is the short-run profit-maximizing decision
solution of central problem of an economy
Dialectic Inquir y It is a technique for group decision making in which members are forced to "debate" both sides of a matter. Dialectic inquiry forces consideration o
what is Scitovsky Contour ?
Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low
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