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Question: Suppose there is an increase in college enrollments, which causes an increase in the demand for textbooks. What should happen in the markets for labor and capital employed in the manufacturing of text books? Explain.
Microeconomics, Economics
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A market is supplied competitively by 50 low- cost firms, each with cost curve C(q) = 350 + 2q+ q^2, and n high-cost firms, each with cost curve C(q) = 400 + 2q +q^2. Market demand is Q = 2500 - 10*p. If none of the high ...
Question: Rules restrict how we interact with others and, therefore, restrict our ability to engage in exchange. Given these are undesirable (from an economic standpoint), what benefits to rules provide us? What is the d ...
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