Illustrate the 4th role is the reallocation of resources
Illustrate the 4th role is the reallocation of resources?
Expert
A fourth role is the reallocation of resources comprises provision of public or social goods, such as streetlights, education, national defence and lighthouses. It also comprises government programs which correct misallocation of resources, also it may occur when there are spillover costs or benefits. When spillover costs happen, resource allocation would be more than is socially desirable, because some of the production costs have been passed on to third parties.
Illustrate Professional and personal applications?
Describe unexpected deflation?
The new supply and demand curves within University City are S0 and D0. But after the county commission imposed a $3 per six-pack excise tax upon beer, monthly sales of six-packs: (w) fell to 10,000, and buyers paid $6.50 each, bu
The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3
Which of the given is not true for a firm within perfect competition: w) Profit equivalents total revenue minus total cost. x) Price equivalents average revenue. y) Average revenue is greater than marginal revenue. z) Marginal revenue equivalents the
When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that
Critically evaluate: “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”
Describe the types of multiplant firms?
Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade
Explain the slope of a straight line is the ratio of the vertical change to horizontal change between any two points on the line?
18,76,764
1948433 Asked
3,689
Active Tutors
1424784
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!