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If current output is such that marginal cost exceeds marginal benefit, should more or less resources be allocated to this product?
comparative advantage can explain why people pursue different occupations. it can also explain why countries produce
Assume the economy is at short-run equilibrium and is in a slump. Ceteris paribus, what would you expect to happen to the money supply over time? Discuss in detail the money creation process in a fractional-reserve banking system.
The market price of a basic digital cell phone fell due to increased production.Demand for office space in major US cities dropped significantly between 2009 and 2010.
FULL karma for complete and clear response. 1. Under what conditions are the Cournot and Bertrand equilibria the same 2. What happens to price and output in the Cournot, Bertrand and Stackelberg models if marginal costs increase by 10 percent
You have been contracted by an economic consulting company to estimate the economic structure and possible future actions of OPEC, Organization of Petroleum Exporting nations.
Define depository institution, and discuss types of depository institutions are found in the U.S. and how do they act as intermediaries between savers and borrowers?
Explain what is meant by diminishing returns. From these costs curves explain when diminishing return sets in? Why and explain the relationship between ATC, AVC and AFC.
What"s wrong with this way of thinking? “Economists claim that when the price of something goes up, producers increase the quantity supplied to the market. But last year, the price of oranges was really high and the supply
assume that the industry you wrote about in assignment 3 wants to expand and has to make some longterm capital
Suppose that the market for radios is perfectly competitive and there is the simultaneous increase in supply and demand. What can be said about the new equilibrium relative to one before the shifts in supply and demand occurred?
q1. what are the four major types of markets in microeconomic analysis?nbsp what are the key characteristics that
soppose that in one year an american worker can produce 100 shirts or 20 computers while a chinese workers can produce
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