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Store of value - Economic functions of money
If you are a fisherman and have a temporary surplus of fish that you want to store for the future, storing the fish might not be a great idea. Money, on the other hand, stores well. Other commodities, such as gold, have this feature as well.
Q. Explain Reversed Say's Law? In the cross model, supply should instead follow demand. Cross model not only rejects Say's Law, it turns it entirely upside down. In the cross m
Explain about the elasticity and total revenue. Elasticity and Total Revenue: a. When demand for a good is elastic, a raise in price decreases total revenue. Then Sales effe
Shows the productivity for the countries Pin and Pang. Machines Bread Pin 4 or 3 Pang 3 or 8 1) If the working population of Pin and Pang are both 6 million, divide
Consider the utility function u(x1, x2) = x1x2. (a) Graph the indifference curves for utility levels 1 and 2. (They are symmetric hyperbolas Asymptotic to both axes). (b) Graph the
Elements of Walmart's strategy have evolved in meaningful ways since the company's founding in 1962. Prepare a one page report that discusses how its strategy has evolved after rev
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There is only one least-cost way to make wooden boxes for shipping tomatoes, and any firm that makes them has a cost function given by 2 TC q q = + + 200 .005 .The inverse market d
What is top marginal rate of taxation?
example of ratio analysis
what is Y = C(Y,T) + G + I(r)
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