Describe double coincidence of wants
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
Give a brief introduction of the term Control Factor?
Elucidate how to maintain competition?
Give a brief introduction of the term Cost of capital?
There are THREE questions in this assignment. The overall word length for this assignment should be in the range of 2,000-2,500 words. You may incur a penalty if you exceed the upper value. You must state the total number of words
Briefly explain the term Average cost and Marginal cost?
Q X= 600- 6PX + 20I +0.4PY c. Suppose PX increases by 10%, by what percentage would sales decrease? Explain how this price increase affect total revenues from good X.
What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry.
Define Direct and inverse relationships?
XY School District has a large number of students in need of remedial instruction. The superintendent of XY School System can allocated her budget between purchasing X units of remedial instruction at a price of $2,000/unit and spending an amount ($Y) on all other sch
Adam Smith’s opinion of an “invisible hand” powerfully implies the meaning that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most peopl
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