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It is suggested that perfectly competitive firms are price takers. Althought one rarely, if ever, has an opportunity to test this in the real-world, it is equally rare that the customers goes into any business establishment and tells the seller what the price is. If sellers are price takers and buyers don't dictate price, where does price come from in perfectly competitive markets?
Discuss what happens to the demand and or supply and to the equilibrium price and quantity in the market for housing as population increases and at the same time the government releases more land for housing.
q.you are thinking of investing in a field which may have commercial oil amounts. depend on the existing data of the
Real versus, nominal GDP Consider a simple economy that produces two goods: apples and envelopes. The following table shows the prices and quantities for the goods over a three-year period. The inflation rate in 2010 was. Why is real GDP a more accur..
One way of estimating the impact of another year of education on individual’s earnings would be to survey individuals about their level of education and earnings and then estimate the following equation- What is the magnitude of a typical estimate of..
Illustrate what is the reorder point for part if the reorder point is expressed in terms of the inventory on hand rather than the inventory position.
q1. explain the essential distinctions among the stages-of-growth theory of development the structural change models of
What impact would a rise in consumer income have on the demand for cars?
An improvement in production technology for a specific good will cause a(n):
An individual consumes only two commodities X and Y. She prefers a bundle B1 with 6 units of X and 2 units of Y to a bundle B2 with 4 units of X and 7 units of Y. Also, she prefers a bundle B3 with 2 units of X and 8 units of Y to B1. Are these prefe..
Bob and Dexter share a dorm room. Bob is a chain smoker but Dexter does not smoke. There are no laws that forbid smoking in the dorm rooms.
decades has noting to do with the Department of Health and Human Services, but rather with the Internal Revenue Service. What evidence can you cite to support your position?
You are in the process of deciding to buy a car. You found a brand new Hyundai Elantra for $22,000. You read the reviews and they all sound good. You plan to keep it for 5 years. You do some rough calculations on the amount of expenses which includes..
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