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The normal supply and demand models take the supply and demand of a particular good and show that the equilibrium price is where the two curves intersect. At this point, all the people below the equilibrium point value the good as worth less than the price; on the other hand, all the people above the equilibrium point value the good as worth more than the price; people at the equilibrium point value the good at the price value.
In my mind, following this logic, everyone should want to "purchase" a free good. But that is not necessarily the case. For example, in an undergraduate program, the university will give away t-shirts, pens, etc. to the students for free. However, not all of the students will want these items. However, since the price is free, it seems that everyone should want them.
How do we reconcile both of these observations?
Which of the following represents the consensus among most economists today with respect to the management of unemployment?
q. this is a drag-and-drop question. click on the curves below and drag them to a new location on the graph that will
What is the future worth of a series of equal monthly payments of $5,000 if the series extends over a period of six years at 9% interest compounded?
The outcome in that market will not be very different than if it were a perfectly competitive industry." Explain if he is correct and how you would respond to his reasoning.
Illustrate what does such a combination mean to this economy. Explain in detail being sure to discuss such a combination relative to resource utilization and efficiency.
Illustrate what is the next best thing to sliced bread in your product or is your product the next best thing.
Two companies compete for a share of the soft drink market. Each worked with an advertising agency in order to develop alternative advertising strategies for the coming year (e.g., a variety of television advertisements, product promotions, in-sto..
What is the short-run equilibrium price. What is the short-run equilibrium market quantity.
Conclude the optimal number of bran muffins to sell in a single package also the optimal package price. Elucidate how all step by step calculations to arrive at solution.
For this case read the article below concerning connecting the factory floor to the intranet/internet. This seems to be an effective way to manage an organization's inventory.
Discuss major fundamental shortcoming of theories of cost determination in england prior to roughly 1870, why failure.
This might be interpreted as an upward shift in the consumption function. How does this shift affect investment also the interest rate.
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