7. Which of the following are sources of growth?

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A:

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A: To find the number of years it takes for the amount to triple, compound interest method is used.

Q: Refer to the information provided in Figure 13.7 below to answer the question(s) that follow. 16 15 ...

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A: When a firm follows Average cost pricing, price is set equal to average cost. The firm is said to mi...

Q: What is the best explanation of opportunity cost in economics. Explain with example.

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A: Time value of money shows how two same amount of  money in different time have different value . 

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Q: 14. Suppose that in an IS/LM fixed-price closed economy with unemployed resources the central bank i...

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A: Assuming two firms are there X and Y , production happens only with fixed cost and both the firm pro...

Q: What is the rate of return for the following incremental analysis. Investment 1 2 Initial Investment...

A: Incremental analysis: Incremental analysis is a decision-making technique used in business to determ...

Q: Prove that the multiplier is equal to 1/(1-mpc)

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A: Economic Profit refers to the profit that includes in its calculation the forgone opportunity costs ...

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Q: A textile firm in a competitive industry employs a particularly efficient manager to run the operati...

A:

Q: Figure 1 Y A' X X Nation 1 Nation 2 1. Which nation has a stronger preference for Y? Explain. 2. Wha...

A: Production Possibility Frontier curve indicates all combinations of output that can be produced by a...

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A: Compounding Compounding is the act of reinvesting an asset's profits, whether they be from capital g...

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A: The potential impact of energy used by us on health, environment, education, employment, and busines...

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A: The second glass of lemonade gives lesser satisfaction to a thirsty biy, because as he consumes more...

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A: Equilibrium, in economics, refers to the condition when demand and supply curves intersect at a poin...

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A: To find : What is upper portion of kinked demand curve more relatively  

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A: In the second-hand car market, both buyers and sellers have different information regarding the cond...

Q: Now suppose that households in this economy allocate each additional dollar of income in the followi...

A: The multiplier states that an increase in income results in an increase in each level of spending. T...

Q: All of the following are determinants of demand except

A: To find : Which is not determinants of demand. 

Q: For your 21st birthday, your grandfather offers you a gift of $1,000 today. However, you have the ch...

A:

Q: 23. Can the government bring about an efficient outcome by imposing a price ceiling on a monopoly? E...

A: Answer: A monopolist maximizes its profit by selling the quantity where the marginal revenue (MR) an...

Q: 48. One characteristic not typical of oligopolistic industry is

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A: The law which controls the way in which a business could tend to operate or a combination of all law...

Q: What are the two main conclusions of the Heckscher-Ohlin Theory of trade?

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Q: According to Acemoglu and Robinson, extractive institutions are often able to generate some economic...

A: To find : Whether the statement is true or false. 

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A: Suppose curve shows different levels of quantity firms are willing to supply at different price leve...

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A: Consumer surplus are the monetary benefits that the consumer receives while buying goods and service...

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A: Minimum wage The minimum amount of money that an employer must pay wage workers for labor accomplish...

Q: Compare and contrast the views of neoclassical economists, environmental economists, and ecological ...

A: The market is explained by Neoclassical economics in terms of human preferences for specific commodi...

Q: Describe four ways in which critics hold that neoclassical economic approaches can worsen environmen...

A: Neoclassical economics is a collection of economic strategies that concentrate on deciding the distr...

Q: Define the term microeconomics. Please explain in detail.

A: Microeconomics is the study of what is likely to happen when people make decisions as a result of ch...

Q: Is the perfectly competitive market model realistic? If not, why do we want to study the perfectly c...

A: Perfect competition is a market model that assumes a large number of firms produce identical goods t...

Q: In the following game, identify how many subgames there are. Then, solve the game to find its subgam...

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A: a) Opportunity Cost:- The benefit that may be achieved if a different option had been chosen is refe...

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.