Q1. Utilizes a diagram to demonstrate the circumstances that would prevail in a competitive marketplace where industries are earning economic profits. Can this scenario be maintained in the long run? Explain your answer
Q2. Some other colleges also universities have a policy of paying equal salaries to professors in all fields. At some of these schools, economics professors have lighter teaching loads than professors in other fields. Illustrate what role do the differences in teaching loads play?
Q3. Explain the effects of monetary policies on the economy's production also employment.