01 What Is Economics
What philosophies are there in Economics? What is the definition of economic efficiency and how does it relate to marginal costs and benefits? What is labor economics? Which of the following is true about profit maximization? a. It is something that all firms actually do. b. It is something...
Answer to: In economics, what are the weaknesses of monopolies? By signing up, you'll get thousands of step-by-step solutions to your homework...
In an oligopoly, there are only a few firms or players who form the industry. This select cluster of companies has control over the price. Also, oligopoly has high barriers to entry. Perfect competition arises when there are many buyers and sellers, products that are similar in nature and ...
• Examples relating to social interest: expansion of international trade, borrowing and lending investment • Self-interested for those who buy (consumers) and produce (firms) at low costs • Low in the best interest for the low wage worker and locals who lose jobs • Bring ...
As such, financial assets are not a temporary place to park newly borrowed funds as, for example, real investment projects are finalized. Second, we show that most borrowed funds are held in non-cash financial assets. Thus, firms do not initially hold borrowed funds as cash before allocating...
In a command economy (指令性(中央管制)经经 , government planners decide what, how, and for whom goods and services are made. Households, firms, and workers are then told what to do. The state owned land and factories, and made key decisions about what people should consume, how go...
A) what B) how C) where D) for whom Answer: A Topic: What Goods and Services Are Produced? Skill: Conceptual Status: Modified 10th edition AACSB: Reflective Thinking 2) When firms in an economy start producing more computers and fewer televisions, they are answering the ___ part of one...
Elasticity also communicates important information to consumers. If the market price of an elastic good decreases, firms are likely to reduce the number of goods or services they are willing to supply. If the market price goes up, firms are likely to increase the number of goods they are will...
market share does not influence price, firms sell identical products, and companies are able to enter or exit markets without barriers. Thus, in contrast, imperfectly competitive markets may exhibit characteristics such as asymmetrical access to information, the presence of price makers, monopolies, an...