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1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs.
2. There are two demand curves for a private (i.e. normal consumption) good: P=30-q1 & P=30-2q2. Let Q=q1+q2 be the total quantity demanded on the market. What is the equation for the total (market) demand ?
Which element of the periodic table has the most characteristics and is used in everyday life?
short run equilibbrium
Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
The Equilibrium Consumption Combination equilibrium for the person occurs at the point where the indifference curve, shown by II, is tangent to the budget line, portrayed by BB. T
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
"As long as consumers are willing to pay a positive price for a good, the larger is the quantity formed, the greater is the total surplus from trade." Explain this statement if i
A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $
#how do you draw a demand curve on excel
Trends in the Growth of Production and Productivity: From an analysis of the trends of growth of production and productivity of agricultural sector as a whole and of differen
how do cooperative and noncooperative games differ
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