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What is the role of profits in a market economy?
Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-allocated advantageously. Profits also enable (re-)investment, innovation, R&D, incomes and give a taxable base.
Production: - Firms should choose how much of each to produce. - The alternative quantities can be illustrated by using product transformation curves. Product Transforma
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Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
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which is the following is an example of a firm''s derived demand?
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
Answer the following questions based on the graph that represents J.R.'s demand for ribs per week at Judy's Rib Shack. a. How high must the price of ribs be for Judy to supply
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