How will the goods and services be produced
How will the goods and services be produced?
Expert
1. The market system encourages and rewards those producers who are achieving productive efficiency, i.e., least-cost production.
2. Least-cost production techniques include: locating firms in the optimum location considering resource prices, resource productivity, and transportation costs, available technology, and resource prices in general.
3. Most efficient technique will be the one that produces a given amount of output with the smallest input of scarce resources when both inputs and outputs are measured in dollars and cents.
Who owns the factors of production and the method used to coordinate economic activity?
Describe the term: “Only to be part with it we want money”?
Give a brief introduction of the term Cost of equity shares?
Speculation is unlike arbitrage since: (1) speculative buyers always break even. (2) speculation causes increased costs. (3) speculators bear no risk. (4) positive returns for speculators are not sure. (5) competitive speculation equa
What is the difference between qualitative data and quantitative data, provide an example of each.
Elucidate how to maintain competition?
Describe the Functional distribution of income?
Define the term Mixed Economy and also state their advantages and disadvantages?
Lets assume an infinitely repeated prisoner’s dilemma game by two players. The resulting payoffs at each phase by the actions of two players are illustrated below in the table (payoffs are symbolized like (payoff for player 1, payoff for player 2)). Two players
Question: Ambrose consumes two goods, peanuts (x1 ) and a composite good (x2). He has a utility functionU = 4 √x1 + x2. This means his MU1 = 2/ √x1 an
18,76,764
1949274 Asked
3,689
Active Tutors
1461459
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!