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Personal computers, like digital cameras, are now common in every household. Over the past 10 years, digital camera prices have come down considerably. Use the model of demand and supply and explain the fall in prices and increase in quantity. and explain the fall in prices and increase in quantity.
1. Suppose that the supply curve for school-teachers is LS = 20,000 + 350W, and the demand curve for schoolteachers is LD = 100,000 - 150W, where L = the number of teachers and W =
How are individual makes choices? Fundamental principles behind the individual choices are as follows: 1. Resources are scarce . 2. The real cost of anything is what y
What do learn by study the supply curve concepts? a. The relationship in between quantity of inputs and output b. Why production is frequently subject to reducing returns
What impact will high and variable rates of inflation have on the economy? How will they influence the risk accompanying long-term contracts and related business decisions?
What is Frictional unemployment Individuals who are temporarily unemployed when transiting between jobs or just entering labour market. This kind is typically short in durat
give and explain national income variation
Suppose the country club bills based on a sample of 4 members are: 358, 958, 665, 846. What is the standard deviation for this sample of bills? (please round your answer to 1 decim
1. What is law of diminishing marginal utility? 2. Find out the marginal utility for the following schedule of consuming pizza Pizza consumed 0
How does Opportunity cost and production possibilities relate?
Discuss how income flows in governed economy, frugal economy, spend their economy.
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