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If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to the left, and exactly the opposite response will happen if producer expect future prices to be lower. If the number of suppliers enhances, so too will supply, but if the number of producers declines, so too will supply.
cobb douglas production function?
How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp
what is chemical combination
if the inverse demand curve is p=120-Q and the marginal cost constant at 10, how does the monopoly a specific tax of 10 per unif affect the monopoly optimum and welfare of consumer
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Why has it been difficult to produce a single estimate of an environmentally adjusted or "greened" GDP? What are the two approaches that can be used to put a value on environmental
Why do demand curves generally slope downward? The demand curve slopes downward because in general, the higher the price of the good, the fewer people will need to buy it.
ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained
explain marris model of the managerial enterprise
How to calculate: fixed cost is $1,000,000 tvc $4,400,000, avc is $22, atc $27, worker productivity is 4. How do I calculate the profit or loss?
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