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Explain how the price system eliminates a shortage.A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on price.Since price rises, quantity demanded falls and quantity supplied rises. This will carry on until quantity demanded is equal to quantity supplied.
write characterstics of duopoly
define opportunity cost and how it is useful in managerial decision making?
what are the limitations of economies of scale?
identify three factors to criticize the theory of consumer behavior or utility theory
3. Which of the following would not be an expansionary fiscal policy? a.Increased welfare payments to the poor b.Decreases in federal taxes on corporations c.A balanced budget d.I
What does economic theory contribute to managerial economics? Explain
Explanation of the Break in Trend: An economy can grow in three different ways or all three ways may work simultaneously: 1) Horizontally, i.e., it may go on producing m
implications of varios market structure for price determination
Who are the competitors in the jarred baby food market? What market share do they have? How do Heinz and Beech-Nut compete with one another? Are the barriers to entry high or low f
(Cost minimization) a) What are the expressions for the marginal product of every of the two inputs in producing credit hours? b) What is the expression for the marginal r
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