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Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable. Secondly those who are trying to prove that the system is inherently unstable. For each scholar provide their position on the issue as well as the theoretical mechanism that drives stability/instability. Be sure to include each of the following:- A. Smith (Invisible hand)- L. Walras (Walrasian Auctioneer)- K. Marx (Laws of Motion)- Edgeworth (Edgeworth Box)- Keynes (Animal Spirits)- Schumpeter (Creative Destruction)
The table elucidates how their possible production every month if both work the same number of 8 hour days. Which of the following statements is correct.
illustrate what is cost of each combination. Illustrate what is minimum-cost combination. Plot iso-cost curves and isoquant, explain how cost-minimizing combination.
Identify five activities you do to enhance production (but not counted as cost of production at moment) which should actually be counted as part of your implicit cost.
Should the company buy or lease the fleet of trucks that it uses to transport its products to marketplace.
Discuss major fundamental shortcoming of theories of cost determination in england prior to roughly 1870, why failure.
Compare the additional revenue Microsoft makes as it moves from 20 million to 40 million copies of Vista with the additional revenue it makes as it moves
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model.
Elucidate the multiplier concept as it applies in this case also what are the qualifications and limitations of the m.
What arguments can be made for charging a lower than the profit-maximizing price. What price from the available prices do you recommend.
The graph also shows the marginal revenue curve faced by this firm. Elucidate how much profit does the monopolist earn.
Even though transport costs could allow for large variance, why is re a large variance. Do we see same sort of variance for prices in markets within a country that are segmented by large distance.
Illustrate what was the value of the government expenditure multiplier. Suppose that investment declined by $40 to a level of $60. What will be the new level of equilibrium income.
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