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Economics Homework Five - Model (view source)
Revision as of 01:09, March 9, 2011
, 01:09, March 9, 2011no edit summary
:Minimum waste, with maximum output. (Aran)
:Minimum waste, with maximum output. (Aran)
:Efficiency is a term used for describing a way of working where you get the maximum done in the minimum time. (Mark)
:[[Efficiency]] is a term used for describing a way of working where you get the maximum done in the minimum time. (Mark)
2. Suppose the cross elasticity of demand for goods A and B is +3.8, and for goods X and Y is -2.7. What can you conclude about the relationship of the goods A and B, and of X and Y?
2. Suppose the cross elasticity of demand for goods A and B is +3.8, and for goods X and Y is -2.7. What can you conclude about the relationship of the goods A and B, and of X and Y?
:A consequence not mentioned in the lecture of the Coase Theorem is that it reduces the separation between economic classes because the producer's financial situation is no longer important [if the producer has a good in demand]. (Elizabeth)
:A consequence not mentioned in the lecture of the Coase Theorem is that it reduces the separation between economic classes because the producer's financial situation is no longer important [if the producer has a good in demand]. (Elizabeth)
[[Category:Economics lectures]]