Why businesses are not really free to produce
Why businesses are not really “free” to produce what they wish?
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Businesses are not really “free” to produce what they wish. Their production choices with consumer choices or face losses and eventual bankruptcy have to match. Profit-seeking firms must consider the allocation of the “dollar votes” when they make their production decisions. Resource demand is a “derived” demand, i.e. it depends on the demand for the products produced by the resource.
Question: The Theory of Purchasing Power Parity says that, in the long run, nominal exchange rates change to offset changes in relative i. _________________________ so that the purchasing power of two currencies st
Illustrate the 6 basic supply determinants of other than price?
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If banana divides are $2, CD disks are $10, and SCUBA vacations are $360, then what is the relative cost of a SCUBA vacation in phrases of a CD disk: (i) 36 disks. (ii) 360 disks. (iii) 180 disks. (iv) 20 disks. (v) 3,600 disks. Q : Explain how an increase in state Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
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