Q. Consider the following examples of economic activities:
purchasing of groceries
massive layoff of employees
decrease in taxes
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Q2. Suppose that the price of a bottle of vitamins is $1.33 and that at that price the total quantity demanded by consumers is 75,000,000 bottles. How many firms will there be in this industry?