What is long run supply curve
Please brief the knowledge what is long run supply?
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Long run supply: It is a graph represents the long run supply curve.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equi
Question: Suppose firm 1 and firm 2 merge. Call the new firm A. It has output xA and profit πA. Suppose there is Cournot competition after the merger. For now, we assume that the marginal cost of Firm A, the mer
Question: Compare and contrast 'adaptive expectations' (Hubbard uses adaptive expectations) and 'rational expectations' in modeling expectations. Answer:<
Cite examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit?
Speculate regarding the behavior which could result from Internet technology in airline transactions and propose 2 or more strategies to deal with them.
Most economists believe such that people increase an activity when they perceive the expected additional benefits as exceeding the expected extra cost, but decrease their level of an activity whenever they believe the benefits from the last few units of the activity a
"The economic cost of unemployment is measured by the GDP gap." Explain this statement. ?
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Meaning of Cash Reserve Ratio (CRR): It is the percentage of net or total deposits of commercial bank that are maintained by RBI.
Question: What can we learn from the Japanese experience? Is the US headed for a 'lost decade? Answer: There was a similari
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