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What are some pertinent economic theories that supports Adam Smith agreeing with unequal distribution of wealth leading to social unrest?
q1. briefly discuss the similarities and differences between producer equilibrium and consumer equilibrium.q2. assume
Below are some possible combinations of rice and fish for people living on the Islands of Alpha and Beta. Suppose the Alphas currently produce and consume 10 pounds of rice and 60 pounds of fish. What is the opportunity cost of 1 pound of rice on Alp..
Our desires and satisfactions are often relative not only to what others have but also to what we ourselves have become accustomed to. A small amount of tasteless food can be the source of immense satisfaction to a very hungry person. The marginal co..
The circular flow model depicts the exchange of money, products, and resources between households and businesses. It includes the factor and the products markets. A peak is usually followed by a correction phase in which contraction occurs, growth sl..
Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? Provide specific examples to support your answers. Does a competitive firm’s price equal the minimum of the average total cost in the short run, in th..
If the price of a fixed factor of production increased by 50%, what effect would this have on the marginal coast schedule facing a firm? a. None, because fixed costs don't affect marginal costs b. marginal cost would increase by 50%, c. marginal cost..
Health capital decisions: What would happen to desired level of health capital if there is an increase in educational attainment? Please use the “supply and demand” type graph. Make sure to explain the graph and answer fully.
If an economy experiences a decrease in consumer spending, most economists believe:
find the country with largest budget deficit and largest budget surplus in this list the budget deficit is called the Budget Balance.
Which country has comparative advantage in the production of Cell Phones? Which country has comparative advantage in the production on Computers? Explain. If transportation costs are ignored and trade is allowed, will China and Germany engage in trad..
Illustrate what are the optimal prices for each product if you sell these products separately. What are your firm's profits. Explain.
If the economy goes into a recession, we can expect:
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