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- Explain detailed in your own words that how equilibrium is achieved in three sector economy.Explain the knowledge problem faced when attempting to plan an economy. Does this have any relation to optimal firm size?Critically evaluate this statement: “The trouble with economic theory is that it is not practical. It is detached from the real world.” Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Please describe each step to solve the problem presented below:Spot the economics in the following cases by identifying the concept described within the scenario and then briefly articulating your answers When parking violations in San Francisco were $100, there were 250,000 tickets given out. When violations went up to $175 there were 200,000 violations given. Ford produces trucks and loses ⅓ of a sedan for each truck produced. When it produces sedans, it loses 2 trucks per sedan produced. Driving down Mendocino Blvd, you notice a street crew working near campus. One worker is jackhammering away, while another removes the rubble. Both are extremely productive. Two workers are talking and having a smoke, while another three are having some coffee all while watching the first two workers. Recently, I attempted to cancel my SiriusXM subscription. I logged into their website and clicked on the “cancel subscription” link which I had a hard time finding because it was hidden in some obscure menu. When I clicked on cancel, a window popped up…Which graph depicts a technological breakthrough in the production of Y only?
- Question 1 Classify the following as microeconomics or macroeconomics and provide a justification for your choice. The optimal choice of output for a firm that produces Choose. electric heaters. Choose. A worker's decision about how many hours to work. Micro, examining one individual The impact of new technology in the market for DVD recorders. Macro, examining one firm in economy The relationship between education and economic growth. Macro, examining entire economy The effect of government spending on the nation's Micro, examining one specific firm unemployment rate. Micro, examining one sector of economy Please answer all parts of the question. Macro, examining one sector in economyHow will you explain production as a source of economic well-being?A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find that consumers won& buy it because they done like the taste. From an economic perspective, the company should.......... keep the hamburger on the menu because they have spent so much money and time developing and promoting the product. spend more money to develop a more efficient way to cook the hamburger so it cooks in a shorter time. pull the hamburger off the menu and treat the development and promotion expenditures as a sunk cost. keep trying to sell the hamburger so that people who developed and promote it have a job with the company.