Heterodox pricing process
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?
Explain how, if at all, each of the following affects the location of the production possibilities curve?
1. The owner of a firm calculates that next year's profit will be $1,000. Each successive year profit will increase by 10% (i.e. year 2: $1100; year 3: $1210 and so on.) At the end of the 5th year the firm could be sold for $20,000. A) if the appropriate di
Describe GDP gap and Okun’s Law?
By the perspective of nowadays academic standards, Adam Smith must have more evidently acknowledged that several the analyses and insights for that he took credit within his Wealth of Nations had really been gleaned from the writings
Evaluate and explain the statements: “The market system is a profit-and-loss economy”
Explain: “Even though parking meters may yield little or no net revenue, because of the rationing function they perform nevertheless be retained”
Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge upon tradeoffs which essentially reflect: (i) cooperation to minimize human greed. (ii) opportunity costs. (iii) competitive social behavior. (
Give a brief introduction of the term Cost of retained earnings?
Define the term Market Economy and also state its advantages and disadvantages?
Illustrate the Law of supply?
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