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The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
how much for taking a test
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
types of elasticity of demand
What are the economies and diseconomics of scale?
1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality. 2). The Prisoner's Dilemma Exercise:
if the Japanese yen appreciates against the U.S. dollar, do the Japanese businesses gain by a decrease in the dollar price of exports to the United States
How does an increase in the size of a future payment affect the present value of a future payment
Continuity and Regularity: We should make it a point that once we have entered the market for a particular commodity and have gained some foothold in it, we must strive to ma
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