Economics Concepts, Microeconomics

Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing o]potatoes, she can raise 200 pounds of potatoes per year
Posted Date: 4/23/2012 4:23:06 PM | Location : United States

Related Discussions:- Economics Concepts, Assignment Help, Ask Question on Economics Concepts, Get Answer, Expert's Help, Economics Concepts Discussions

Write discussion on Economics Concepts
Your posts are moderated
Related Questions
a)  Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20

There are two individuals in town, one is high risk and the other is low risk. 1 The probabilities of having an accident for the low risk individual and high risk individual are p

Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef

Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h

E-goods are returning to price levels which we thought they had left behind, again the inevitable price elasticity. Why is it so certain that price elasticity will cause those pric

why raise MC cost after minimum level ?

determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}

compare the concept of MRTS with the MRS and discuss the similarities and difference between them?

3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe

what are the sources of oligopoly power