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Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
The curve is bowed-out because some resources are better suited for the production of one good (e.g. butter) rather than the other (e.g. guns). And as we try to produce more and more of the other good (e.g. guns), it takes enhancing amounts of resources to do so and therefore we incur increasing opportunity costs.
Given the following MV information, what is the optimal allocation of care according to the Preteens criteria, when the marginal cost of care is constant at $100. Person A Person B
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Inflation in Sweden Figure Inflation in Sweden 1830 - 2010. Source: SCB. There are four aspects which are interesting when we look at inflation data for Sweden
explain money market equilibrium?
Does a firm's price equal marginal cost in the short run, in the long run, or both? Explain.
How credit is created or the creation of credit
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Frovea's currency is called the fromark, and Olympia's currency is called the olymark. In the market in which fromarks and olymarks are traded for each other, the supply of and dem
How are the qualitative aspects of development measured? Development includes the evolution of more safe, stable, participatory and only societies. This involves capacity deve
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