Technical change and vintage technology
In heterodox economics, what implications does technical change and vintage technology contain for the cost structure of the business enterprise?
Briefly state the pros and cons of Proprietorship?
Elucidate how to maintain competition?
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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
Q X= 600- 6PX + 20I +0.4PY c. Suppose PX increases by 10%, by what percentage would sales decrease? Explain how this price increase affect total revenues from good X.
Which two of the six reasons listed in the Last Word do you think are the most important in explaining the rise in participation of women in the workplace? Explain your reasoning.
How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?
Explain how the Circular Flow Model for a Market-Oriented System?
Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.
Is Eiteman & Guthrie’s empirical evidence on the shape of the average total cost curve consistent along with heterodox cost theory? Discuss it out.
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