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Identify the four institutional requirements of markets.
The four institutional needs of markets are:
Pprivate property,
Social institutions of trust,
Good physical infrastructure and
Money.
A major component of the costs of many large firms is the cost associated with ordering and holding inventory. If the yearly demand for the good is D and the size of each order pla
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1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
In 1939 the U.S. economy was operating where in the production possibility curve?
risk describe,prefrence towards risk,the demand for risky assets.consumer behaviour under asymmetricinformation
observations and result
how to differentiate the exeptional demand and exceptional supply?
(1) The demand curve for oranges is given by the equation P = 5 – Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars p
In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
What is equilibrium point
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