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What is the difference between demand and supply curve.
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Question: A firm in a perfectly competitive market invents a new method of production that lowers its marginal costs. What happens to its output? What happens to the price it charges? a. The firm has an employee who thre ...
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Question: Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market ...
Question: The prisoners' dilemma provides insight into much more than price-fixing, as the next three questions indicate.53 a. People often complain that conversations at cocktail parties (where there is no music) are so ...
Quesiton: In Germany it takes three workers to make one television and four workers to make one video camera. In Poland it takes six workers to make one television and 12 workers to make one video camera. a. Who has the ...
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Question: Use the spreadsheet on Ricardian equivalence with three periods and assume that - the government spendings are 100, 150 and 150; - households' salary is 300 in each period. Also assume that households preper sm ...
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