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What is market clearing level and public good?
Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity from the market.
A public good is a good that, even if it is consumed by single person, is still available for consumption by others. For instance, clean air is a public good, so is national defense or public safety.
Determine Optimal Price, Quantity and Economic Profit A firm has a demand function P = 200 – 5Q and cost function: AC=MC=10 and a potential entrant has a cost function: AC=MC
Lack of Integration in Policy Formulation and Policy Implementation: A common thread uniting these diverse diagnoses and prescriptions can be seen among most of the critical e
Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total
Suppose that the price of schooling is $20 per year of schooling and it suddenly rises to $40. Compute the point price elasticity of demand at the initial price level and at the fi
How to find quantity supplied given just the price
Price/Earnings (P/E) Ratio This is a measure of an organization investment potential. Literally, a P/E ratio is how much a share is worth per dollar of earnings. The price-earn
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
Use standard indifference curve analysis to demonstrate whether the following statement is true or false. If the objective of government welfare programs is to provide lower inc
What is development economics? Traditional economics studies the allowance of scarce resources among alternative uses. Development economics seems at the economic, politica
Explain about the content of factor markets and the distribution of income. Content of factor markets and the distribution of income: a. Factor distribution of income b.
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