Used in expressions like the market for wheat

Assignment Help Business Economics

Reference no: EM131253229

1. Give a single definition of the term “the market” as it is used in expressions like “the market for wheat,” “the legal US market for kidneys,” and “the market for the common stock of a particular corporation.” Explain why your definition is broad enough to apply to all markets, including each of those listed above. Also explain why your definition is narrow enough to exclude things that are not markets. A good definition captures the most essential features that all markets have in common. If a market’s characteristics listed in your definition change, we should agree that the market has changed. B. Define a lump sum tax. Why are lump sum taxes rarely used by real governments? C). A firm with private marginal cost PMC and average unsunk cost AUC is producing Q units and selling them at a price P, where P > PMC(Q) and P > AUC(Q + 1). The firm could make more profit if it could sell more at the same price P per unit. Explain why we can be sure of this.

Reference no: EM131253229

Questions Cloud

Impact the equilibrium price and quantity in the market : Show how each of the following would impact the equilibrium price and quantity in the market of large SUVs in the short-run.

How the action plan will enable you to apply planning theory : Create an action plan for your personal further professional development relating to planning.- Write an explanation of how the action plan will enable you to apply planning theory into practice and how it will contribute to your own personal lear..

Applications helps in the development of smac : Just look at how SAP, Oracle, Microsoft, IBM and others are spending billions of dollars, acquiring companies or developing applications to address the demand for SMAC. Discuss how these applications helps in the development of SMAC.

What is the minimum-size particle that chamber would remove : The particle density is 1 g cm-3, air viscosity is 1.69 X 10-4 g cm-1 s-1 , and the air density is small enough that the buoyancy force may be ignored. Express your answer as particle diameter in ion.

Used in expressions like the market for wheat : Give a single definition of the term “the market” as it is used in expressions like “the market for wheat,” “the legal US market for kidneys,” and “the market for the common stock of a particular corporation.” Explain why your definition is broad eno..

Explain is virtual private network : 1. What is cybersquatting, typo squatting and identity theft? How to prevent this? 2. What is adware, spyware, phishing and pop-up window? 3. Explain is Virtual Private Network (VPN) and Virtual Private Server (VPS) and the importance of it in an or..

Marginal benefit is defined : Marginal benefit is defined as:

Write a paper about the bacteria grown in magnetic fields : Write a paper about the Bacteria Grown in Magnetic Fields. Bacteria grown on plates inside of magnetic fields. Bacteria transferred into and regrown in test tubes. Second generation grown on plates inside of magnetic fields.

What is the change in consumption and private savings : If taxes increase by $500 and the MPC is 0.8, what is the change in consumption and private savings? What is the change in public savings? what is the change in total savings? What is the change in investment?

User Account

All Pages