Distinguish between Individual as well a market demand
Distinguish between Individual as well a market demand?
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1. Transition from an individual to a market demand schedule is accomplished by summing individual quantities at various price levels.
2. Market curve is horizontal sum of individual curves.
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
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Early in the 18th century, a leading industrialist responded to an advisor of King Louis IV of France, who asked how the crown could most excellent facilitate the world of commerce, along with “Laissez nous faire,” that im
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Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal
What explains why millions of economic resources tend to get arranged logically and productively rather than haphazard and unproductively?
Compare the costing and pricing process of heterodox pricing process to the procedures utilized in neoclassical microeconomics to set prices. In what ways are heterodox prices altered from neoclassical prices?
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Briefly describe the meaning of Modigliani- Miller (M and M) approach?
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