Illustrate Other Things Equal revisited in Supply
Illustrate “Other Things Equal” Revisited in Supply and Demand, and Equilibrium?
Expert
Remember that the “laws” of supply and demand depend on the assumption that the “other things” or “determinants” of demand and supply are constant. Confusion results if “other things” (determinants) change and one does not take this into account. For example, sometimes more is demanded at higher prices because incomes rise, but if that fact is ignored, the law of demand seems to be violated. If income changes, however, there is a shift or increase in demand that could cause more to be purchased at a higher price. In this example not remain constant is “other things”.
Favor laissez- faire economic policies tended by Adam Smith, who also: (w) saw the requirement for several state intervention. (x) believed there were no conditions in which the government must intervene. (y) supported most government
How do households dispose of their income?
Illustrate the advantage and disadvantage of Corporations?
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
Briefly explain the term leverages?
Write down the drawbacks of capital budgeting?
Evaluate and explain the statements: “Market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace”
Why producers not be able to find enough paying buyers for “public goods”?
Elucidate: Competition and the “Invisible Hand”?
Writ short note on the income of functional distribution?
18,76,764
1931923 Asked
3,689
Active Tutors
1459308
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!