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1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs.
2. There are two demand curves for a private (i.e. normal consumption) good: P=30-q1 & P=30-2q2. Let Q=q1+q2 be the total quantity demanded on the market. What is the equation for the total (market) demand ?
Risk Premium - The risk premium is amount of money which a risk averse person would pay to keep away from taking a risk. * Risk Premium: A Scenario - The person has a 5%
Explain what the natural rate of unemployment is. It is necessary here to include a solid explanation based on economic concepts. The natural rate of unemployment is the rate o
What is inflation gap
1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl
what is Law of Demand?
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
I need help finding the future worth given the initial investment, MARR, and profit over a period of time.
1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe
#question meaning ..
TREND AND STRUCTURE OF INCOME: Each sector of the economy employs natural, human and material resources and contributes to the aggregate flow of goods and services during a gi
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