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If a price is not an equilibrium price, there is a tendency for it to move to its equilibrium level. Regardless of whether the price is to high or to low to begin with, the adjustment process will increase the quantity of the good purchased. 'Explain, using a demand and supply diagram.
Scientists reveal that consumption of oranges decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes orange trees more productive. Illustrate and explain what effect these changes have on the equilibrium price a..
Suppose an earthquake has destroyed many power plants, factories and killed many people in a country - what would be the effect on the economy, and how can It be shown on an AD-AS diagram?
A perfectly competitive market company realizes an average of $11 and an average total cost of $10.00. Marginal cost curve crosses marginal revenue curve at an output level of 100 units.
There are 300 purely competetive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested
What is the something else that DeSoto argues is necessary for a capitalist economy to produce wealth? Choose and explain one example or counter example used by DeSoto to make his case.
What is the cost of producing an additional computer, when 50 cars are being produced? What is the cost of producing an additional car, when 50 cars are being produced?
a. In which category or categories of the national expenditure accounts, C, I, G, or X, would these spendings be recorded? b. Does the fall in inventories appear in the accounts as a positive or a negative number? Why?
What is your marginal revenue and marginal cost functions? To maximize profits, how much should you produce at plant 1? At plant 2? What is the price that maximizes profits?
However, the reputable presumption for some renewable resources is precisely the opposite. What general characteristics of some renewable resources bring this about?
What is the name of the WSH object that VBScript uses to open a text file for reading or writing data? What are the VBScript methods used to read a single character, read a line of characters, or read an entire file in one code line?
Pam, having recently graduated from college, is looking to work for 2 years before she enters graduate school. She has received 2 job offers with the following salary structures:
What sort of shift in supply or demand would result in a market equilibrium with higher prices but lower sales volume? A shift inward in supply could lead to an equilibrium with higher prices but lower volumes. What might cause such a shift?
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