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What are the two main forms of economic distribution? What is the difference between them?
The two major forms of economic distribution are exchange and transfer. Exchange includes a two-way distribution, trading one thing for another, whereas a transfer includes a one-way distribution, giving something with nothing specific expected in return.
compare marginal rate of technical substitution and marginal rate of substitution
Explain how consumers might benefit from the existence of monopolies. While the standard issue of monopolies having higher prices and lower output that competitive markets migh
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
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
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
#question.hif indirect utility function is givenhow to derive the demand function .
Rational Expectations- Inflation Unemployment Trade-off : Now, consider what happens if we suppose that workers have rational expectations about the rate of inflation First, th
Q. Role of Monetary Policy? Monetary Policy: Monetary policy reflects the use by government and government agencies (mainly the central bank) of interest rate adjustments and o
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
Market failures (even when they do not have international external effects) i) Self-fulfilling bank runs, government debt runs, currency crises. ii) Liquidation costs of li
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