What is economic growth?
What will be an ideal response?
Economic growth refers to the ability of the economy to increase the production of goods and services.
Economics
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A vertical demand curve is
A) completely inelastic. B) infinitely elastic. C) highly (but not infinitely) elastic. D) highly (but not completely) inelastic.
Economics
Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1 . If market demand is given by QD = 1050 ? 50P, what is the equilibrium price?
a. 5 b. 10 c. 11 d. 50
Economics