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.
Describe two kinds of efficiency Full production imply?
Describe the merits of “roundabout” production? Describe the term “division of labor”?
Building blocks for a capitalist system would not consist of: (1) supplies and demands. (2) private property rights. (3) laissez-faire policies. (4) market-found prices and outputs. (5) distribution of income in accord along with the principle, &ldquo
Illustrate the 4th role is the reallocation of resources?
Describe three ways to finance corporate activity. Make a case that stocks are more risky for the financial investor than are bonds?
Problem: Luke likes to consumer CDs (good1) and pizzas (good 2). His preference over both goods is given by the utility function U(x1; x2) = x21
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Illustrate the advantage and disadvantage of Sole proprietorship?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
In Wealth of Nations by Adam Smith, opined that the productivity of labor based primarily on: (w) workers’ education. (x) divisions of labor. (y) technologically advanced machines. (z) suitable wage rates. Discover Q & A Leading Solution Library Avail More Than 1447824 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928656 Asked 3,689 Active Tutors 1447824 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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