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surpluses drives price down,shortages drive up
Explain: “Even though parking meters may yield little or no net revenue, because of the rationing function they perform nevertheless be retained”
What are the limitations of Circular Flow Model?
Elucidate the gains that have occurred using the resources as before specialization?
Explain the foundation of economics where society’s material wants are scarce resources?
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
Explain the statement: “The other things equal assumption helps isolate key economic relationships.”?
Briefly describe composite cost of capital? And also describe the procedure to calculate composite cost of capital?
Question Can you describe what the production function for the game looks like? (How are labour, capital and resources combined? Are there constant, increasing or decreasing returns to scale?) Answer Q : Costs for a firm Question: (a) Question: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Question: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Question: Some commentators have argued that the failure of the "Super committee" is good thing for the economy? Do you agree? Answer: The Super committe
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