What is an inverse relationship
Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?
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Graphs can be used to illustrate the relationship between two sets of data. When 2 variables change in opposite directions it is said to be an inverse relationship. The slope of line is decreasing. When 2 variables transform in the same direction it is said to be direct relationship. The slope of line is increasing. Statements illustrate direct relationships. Statement illustrates an inverse relationship. It assumes that everything remains equal in inverse relationship.
Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors. y) have to take the market price as a specified. z
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry.
Illustrate the advantage of corporate form of organization?
Question: In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables? Answer: <
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 do households dispose of their income?
What are the determinants of demand?
Give a brief introduction of the term Financial Leverage?
Question: Cineplex and AMC are two rival movie theatre chains. They must each decide whether to set an admission price of $10 or set an admission price of $12; of course, the number of movie goers (and thus their r
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