Excess demand in macro economics
What is meant by Excess demand in macro economics: In macro economics, if aggregate demand is greater than aggregate supply at full employment level, then there is excess demand.
The model of perfect competition assumes perfect mobility and perfect information. Transaction costs are not present; therefore all buyers and sellers base decisions on the best information obtainable to anyone else, as well as transportation (mobilit
When a successful cartel which cannot price discriminate maximizes the joint profits of its members: (1) the marginal social benefits of additional output exceed the marginal social costs of output. (2) this is impossible for any consumer to gain with
Transfers to the poor “in-kind” are probably to be favored over cash transfer payments through: (a) people who are skeptical that the poor can manage their income competently. (b) economists concerned with improving effici
What will be the long-term effects of the Baby Boom?
please help me in doing the attached documents
Purely competitive markets share the feature of: (i) collusive behavior among of large firms. (ii) freedom of entry and exit in the long run. (iii) extensive negotiations about prices in between buyers and sellers. (iv) widespread product differentiat
Consider goods for that various people are willing and capable to pay much more than the costs of production therefore widespread shortages exist. International federal or agreements, state and local laws as well as regulations are probably key factor
Objectives: This assessment item relates to the course learning outcomes 1, 2 and 3 as listed in Part A. Question 1 (22 marks) (a) Consider the market represented by the schedule in the table below. (5 marks) Price Quantity demanded Quantity
The short-run supply curve for a purely competitive industry is the horizontal total of the: (a) quantities demanded by consumers at each price. (b) prices charged by individual firms for each quantity supplied. (c) quantities supplied by established
Can someone help me in finding out the right answer from the given options. In the equilibrium for a price maker firm, the rate of monopolistic exploitation is any difference among: (i) P and MR. (ii) P and MC. (iii) VMP and MRP. (iv) Output price and rate of monopson
18,76,764
1923652 Asked
3,689
Active Tutors
1442776
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!