Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 27, 2024

Define therationing functionof price. Why is it necessary for price to serve this function in the market economy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics Principles And Policy

Authors: William J. Baumol, Alan S. Blinder

11th Edition

0324586213, 978-0324586213

More Books

Students also viewed these Economics questions

Question

★★★★★

1. Why do you think it's important to pick a topic that is important or interesting to the speaker? What are some ways to choose a speech topic? What do you find to be interesting beginnings of...

Answered: 1 week ago

Question

★★★★★

A machine with a cost of $135,000 and accumulated depreciation of $87,500 is sold for $55,000 cash. The amount that should be reported in the operating activities section reported under the direct...

Answered: 1 week ago

Question

★★★★★

Describe a feasibility analysis template and explain why it is important for entrepreneurs to use this template.

Answered: 1 week ago

Question

★★★★★

Presented here is basic financial information (in millions) from the 2006 annual reports of Nike and Adidas. Instructions Calculate the receivables turnover ratio and average collection period for...

Answered: 1 week ago

Question

★★★★★

Define therationing functionof price. Why is it necessary for price to serve this function in the market economy

Answered: 1 week ago

Question

★★★★★

Please make a general journal entry for the questions below. 1. Received cash payment of $14,000 for outstanding accounts receivables on December 3rd. 2. Provided services for cash of $12,000 on...

Answered: 1 week ago

Question

★★★★★

Exam Content You studied change models in Week 1. This week you began to consider the impact of individuals in terms of productivity. In this assessment, you will craft an approach to changing the...

Answered: 1 week ago

Question

★★★★★

The following summarized data (amounts in millions) are taken from the September 26, 2020, and September 28, 2019, comparative financial statements of Apple Incorporated, a company that designs,...

Answered: 1 week ago

Question

★★★★★

Salvador and Cureg are partners with capital balances of P60,000 and P20,000, respectively. Profits and losses are divided in the ratio of 60:40. Salvador and Cureg decided to form a new partnership...

Answered: 1 week ago

Question

★★★★★

Steve Ponting Plumbing offer Harold Raven a discount of 2% if his account is paid within 7 days of the invoice date. On 8 October, services to Harold of $3,300 including GST were invoiced by Steve...

Answered: 1 week ago

Question

★★★★★

2-18. Two springs connected in series shown in Fig. P2.18 can be represented by a single equivalent spring. The stiffness of the equivalent spring is given by keq k1k2 k1 + k2 (2.63). where k and k...

Answered: 1 week ago

Question

★★★★★

7. True or false. Potential rivals may be more likely to collude if they view themselves as playing a repeated game rather than a one-time game. LO14.6

Answered: 1 week ago

Question

★★★★★

9. Look back at Figure 14.7. Suppose that the payouts at terminal node B change to (13,12) while everything else in the game stays the same. The new subgame perfect Nash equilibrium will consist of...

Answered: 1 week ago

Question

★★★★★

6. Collusive agreements can be established and maintained by: LO14.6 a. Credible threats. c. Empty threats. b. One-time games. d. First-mover advantage.

Answered: 1 week ago

Previous Question Next Question