Explain supply of the commodity, The law of supply is that producers will s...

The law of supply is that producers will supply more the higher the price of the commodity.  The supply curve is an upward sloping function showing a direct relationship among pric

Identify the four essential economic activities, Identify the four essentia...

Identify the four essential economic activities. The four main economic activities are: a)  resource maintenance, b)  production, c)  distribution, and d) consumpti

Economic models, what is the use of models in economics?

what is the use of models in economics?

Which of the following statements is true?, Nonmetals tend to gain electron...

Nonmetals tend to gain electrons. A-Metals tend to lose electrons. B-Atoms have the natural tendency to C-fill their outermost shells. All of the above. D-

Evalution - credit and recoveries, "Micron" is a company,providing micro fi...

"Micron" is a company,providing micro financing facility for various business entities.So far Micron has been in operation for seven years facilitating new business ventures and ex

Price floor , Suppose that the U.S. Department of Agriculture (USDA) admini...

Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu

Cost of job loss, When a worker is fired orlaid off, they experience a sign...

When a worker is fired orlaid off, they experience a significant out-of-pocket cost. That cost of job loss relies on how much they were earning in their job, how long it takes them

The lower the value MR of monopolist ,

Principle agent problem, Principle Agent Problem [Dealing with hidden actio...

Principle Agent Problem [Dealing with hidden action] Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes th

Institutional intervention on deightweight loss, so this question asks for ...

so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or