What is long run supply curve
Please brief the knowledge what is long run supply?
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Long run supply: It is a graph represents the long run supply curve.
Explain with examples the reasons for exceptional demand curve
Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
How does a commercial bank make money? Answer: Commercial banks are capable to make credit that is many times greater than deposits received by banks. Money creatio
Bank rate: This is the rate at which the central bank loans money to commercial bank.
a restrictive monetary policy is designed to shift the
I have a problem in economics on Paradox of Value-total utility and marginal utility. Please help me in the following question. Water is more precious than diamonds when measured by _____, however less valuable when measured by _____. (i) Total cost, total benefit. (i
When firms bear the legal incidence of a tax, this is backward shifted while: (1) firms burden consumers by raising their prices. (2) the tax burden is borne by workers in the form of lower wages. (3) resource suppliers seek higher factor payments to
Tariffs: -are also called import quotas. -may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). -are per unit subsidies designed to promote exports. -are excise taxes on goods exported abroad.
If the price of K declines, the demand curve for the complementary project J will:
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