Shortage of the good
Describe when there will be a shortage of the good?
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When the real price is lower than the equilibrium price, then there will be a shortage of the good.
When doubling your viewing of soap operas to 16 hrs per week reasons your IQ score to drop/fall from a mastermind level of 140 to a sluggish 70, your TV elasticity of brain power will be: (i) + 1.0. (ii) zero. (iii) – 1.0. (d) +0.5. (e) -0.5.
What do you mean by the term Competitive market?
In market economies, what are the signals which guide economic decisions?
Read the article on blackboard in the assignments area, John McCallum "Agriculture and economic development in Ontario and Quebec until 1870", Gordon Laxer, ed. Perspectives on Canadian Economic Development: Class, Staples, Gender and Elites (Toronto: Oxford Universit
What do you mean by the term Equilibrium? Also state its proper definition.
Open-Economy Macroeconomics Suppose the structure of an economy with a flexible exchange rates is represented by: C = 200 + 0.85*(Y - T) &n
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
Determine the value of total receipts of government budget when budget deficit is Rs 2,000 crores and the net expenses is Rs 3,000 crores.
use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges?
Briefly explain the four supply factors in economic growth?
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