In which of these two statements "supply" and "demand" used correctly?
"In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."
When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
What happens when AD > AS past to full employment level of employment?
Examples of command economies are: a) the United States and Japan b) Sweden and Norway c) Mexico and Brazil d) Cuba and North Korea
‘The country is at present in recession and this has led to worse tax revenue and high expenses. The effect is a huge deficit. The government decides to increase taxes and lower government expenses. Is this an excellent idea?’
What are the strength and weakness of using per capital national income? give explained answer for query
What are the conditions through which the supply curve will shift?
What do you mean by the term Equilibrium? Also state its proper definition.
What are the Steps to analyze modifications in equilibrium?
Speculate regarding the behavior which could result from Internet technology in airline transactions and propose 2 or more strategies to deal with them.
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