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?
When the market price is $25, then the average revenue of selling five units is: w) $5. x) $12.50. y) $25. z) $125. Please guys help me to solve out this type of problem regarding profit in a perfectly competitive market
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.
Explain the following from Hull, England a news dispatch: “The fish market here slumped today to what local commentators called a ‘disastrous level’—all because of a shortage of potatoes”.
Explain the Trade pattern of U.S. and World Trade?
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.
Briefly describe the term explicit cost and implicit cost?
Explain the law of supply. Why does the supply curve slope upward?
Describe redistributive effects of inflation?
What are the dependencies in U.S. and World Trade?
Elucidate how to maintain competition?
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