Explain and illustrate, explain and illustrate the changing demand for big ...

explain and illustrate the changing demand for big mac using indefference curve and budget line

Economic profit and economic loss, Economic profit and Economic loss: ...

Economic profit and Economic loss: Economic profit is the excess if total revenue over total cost when the latter includes both explicit and implicit costs. It is the type o

Find the equilibrium price and quantity, 1. Assume that the market for whea...

1. Assume that the market for wheat is perfectly competitive. Suppose the demand curve for wheat is given by: QD = 200 – 2P where QD is the quantity demanded, in bushels, and P i

Equilibrium, what is pooling equilibrium

what is pooling equilibrium

Theories of production, Highlight the few heading of it

Highlight the few heading of it

Bayesian Nash Equilibrium, Consider 2 firms i=1,2 producing quantities q1 a...

Consider 2 firms i=1,2 producing quantities q1 and q2 respectively. Let the market price be given by P=a-b(q1+q2). Firm 1''s Marginal cost c is common knowledge but 2''s cost is no

Game theory, sequential game

sequential game

The Invisible Hand and Externalities, In markets, the invisible hand alloca...

In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there

Cross Price elasticity,

What are the main weaknesses of using demand-side policies, What are the ma...

What are the main weaknesses of using demand-side policies? Trade-off issues a) Growth and low unemployment often come with inflation b) Government stimulatory policies m