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A. Explain how the prices determined in competitive market in theory? describe who the price were determined in P.O.W Camp. Discuss weather mechanism of price determination in P.O.W Camp is consistent with the theory?
B. there was an attempt to fix the prices but results in failure. explain why the attempt failed? Cigarette was used as currency. explain why?
C. what was a problem caused by using cigarette as currency?
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
Illustrate the above relationship between income and savings rate using a graph with income on the x-axis and total savings on the y-axis. B). Will a government policy to redistribute income to achieve less income inequality potentially help or hurt ..
Draw the new budget line and use the indifference curve to identify the change in quantity purchased and illustrate the income and substitution effects.
Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
If a representative company with long run total cost given through TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given through QD = 1,500 - 40P,
A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm's total costs are C(Q) = 50 + 10Q + 2Q2. (MC = 10 + 4Q). a. What price should the firm charge in the short run? b. Ho..
Online research seems to be the best. They all have pros and cons of some sort. I would use online research to reach a certain demographic and have links from sites that my target market would visit. The benefits would be to gain information us..
Yearly demand and supply for the Entronics corporation is given by: Qd= 5,000 +0.5I+0.2A-100P and Qs=-5000=100P where Q is the quantity per year,
Why is elasticity of supply important when it comes to analyzing the operation of the market system Think back over the last century: what factor do you suppose has most influenced the elasticity of supply of aluminum, automobile, and petroleum in..
Which of the following changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD? Explain your answer with credible logic and analysi..
What information did you have or obtain that helped make your decision a well-informed one.there something you didn't know beforehand.
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