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Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable. Secondly those who are trying to prove that the system is inherently unstable. For each scholar provide their position on the issue as well as the theoretical mechanism that drives stability/instability. Be sure to include each of the following:- A. Smith (Invisible hand)- L. Walras (Walrasian Auctioneer)- K. Marx (Laws of Motion)- Edgeworth (Edgeworth Box)- Keynes (Animal Spirits)- Schumpeter (Creative Destruction)
If the actual price in this market were below the equilibrium price, illustrate what would drive the market toward the equilibrium.
q. a firm in a purely competitive business is currently producing a 1000 unitday at a total cost of 450. if the firm
write down expression for marginal revenue. choose the quantity and the price to maximize profit, assuming firm can only charge one price.
A brewery is considering two potential production investments.
Elucidate how does knowledge of price elasticity among different groups of clients or for various products enable managers to price discriminate or change different prices for these groups.
q.consider a mutual fund with 720 million in assets at the start of the year and with 10 million shares outstanding.
What explains that marginal cost increases as production of a product increases?inreasing cost law decreasing average cost property
q.address the following questions1. what is the elasticity of the demand for cookbooks bought this way?2. is the
Use the endogenous growth model to determine the effects of this on the paths of aggregate consumption and aggregate output overtime.
Illustrate what if, anything cans you conclude about the relationship between the prices of oil also the level of real GDP in the United States
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Depends on the costs and revenues above, which should you do. Elucidate and show any relevant calculations.
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