Heterodox cost theory
Is Eiteman & Guthrie’s empirical evidence on the shape of the average total cost curve consistent along with heterodox cost theory? Discuss it out.
Illustrate the advantage and disadvantage of Corporations?
The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W
Explain how, if at all, each of the following affects the location of the production possibilities curve?
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
What do you mean by Shuffling the Deck?
Describe GDP gap and Okun’s Law?
When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z
What is the scientific method and how does it relate to theoretical economics? What is the difference between a hypothesis and an economic law or principle?
Why producers not be able to find enough paying buyers for “public goods”?
Contrast how a market system and a command economy try to cope with economic scarcity?
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