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We know that price and quantity are directly related in supply, and inversely related in demand. But, what explains a downward sloping demand curve and an upward sloping supply curve?
What determines market prices, assuming a competitive market and there are no artificial restrictions in the market?
How does the market arrive at an equilibrium?
Assume that Densa Inc. falls 10 percent short of producing the profit maximizing output. Would a higher product price lead to greater output
Assume you are looking at data for an economy that uses only two inputs, physical capital and labour. Table shows output for different combinations of labour and capital.
Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought.
If you drive 20,000 miles per year and the price of gasoline for this analysis is assumed to be $4.00 per gallon, which model should you purchase?
Illustrates what the advantage of using capital in the production. Illustrate what is mean by the term division of labor.
It is important to remember that in a communist society difference between value of machine and value of labour-power replaced by it will always vary. Are you still thinking that Capital is blueprint for society.
What will the effects of the tax be in the short run on industry output and price. Will the price rise by the full ?ve cents in the short run.
If the EU and the United States continue to trade what do you think will characterize goods which the EU exports to the United States and the goods that the United States exports to the EU.
If the Boca Raton Company has only one rival also if its rival too makes such a declaration does this change payoff matrix? If so, in illustrate what way.
Illustrate what entity establishes a cost ceiling and does it require government sanction for violators. Will it result in a surplus or a shortage.
Elucidate why these companies oppose laws allowing reimportation of drugs to the United States.
Does player 1 have a dominant policy also if so Illustrate what is it or does player 2 have a dominant policy also if so Illustrate what is it.
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