What is the concept of “agglomeration”. Explain the internal and external effects associated with this concept.

Drag each label to the correct location on the image. Classify the different options given as goods or services. haircut computer hardware vacation package washcloth housekeeping taxi car engine Goods Services Reset Next © 2022 Edmentum. All rights reserved.

what is specialization and is it neccessary?

Typed and correct answer please. I ll rate

What are the necessary conditions for economic efficiency? In what 4 situations might a market fail to achieve ideal economic efficiency?

Give 3 key characteristics of Sucessful Technopreneurship and explain each of it.

The world exists for one year. The Farmer seeks to maximize her profits. The farmer must choose whether to grown beans or berries. Here are some data about the two products. The farmer owns 1 acre of land and 0 gallons of water. Crop Beans Berries Price per unit of output (in $) 4 X Output put acre of land 24 28 Gallons of water used per unit of output 1 2 Labor cost per unit of output (in $) .2 .2 The profit maximizing farmer will; A. Grow beans if the price of purchasing water is less than $2 per gallon B. Earn equal profits growing Beans or Berries regardless of the price of water C. Seek to sell his water and thus will grow beans. D. Grow berries if X>=8 The farmer would sell this farm for any offer greater than $340 dollars

Marginal cost and marginal benefit (dollars per pound) 5 3 2 - MC M8 100 200 300 400 500 600 Quantity (pounds of coffee perday) The above figure shows the marginal benefit and marginal cost curves of coffee in the nation of Kaffenia. Which of the following would result in the quantity of coffee in Kaffenia differing from the efficient quantity? O The existence of price control in the market. The existence of many producers and sellers of coffee. The existence of a single producer and seller of coffee. Both "The existence of a single producer and seller of coffee." and "The existence of price control in the market." are correct.

PRICE (Dollars per un QUANTITY (Units) Private Cost Demand Which of the following options could be represented by this graph? Oa. A local flower shop adorning the front porch with lots of flowers, which anyone passing by can appreciate. Ob. You next door neighbor burning wet wood in their backyard, resulting in smoke entering your house. Oc. Half of the people in a town getting their flu shots, thus reducing the chances of spreading the disease even to those without the shot. Od. Companies innovating and creating new technologies that end up benefitting the public.

A dairy farmer decides to use automatic milking machines instead of milking by hand. Which economic question is answered by his decision? Select one: ○ a. How to produce? b. For whom to produce? ○ c. Should milk be produced? ○ d. What to produce?