FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hi, what is allocative function and what is rationing function? why is it improtant? may you give examples please. In a market, when will allocative

hi, what is allocative function and what is rationing function? why is it improtant? may you give examples please. In a market, when will allocative and ratinoing function do not work? eg vetical supply curve like land? why? Good diagrams if possiblle, thanks !

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

A Textbook Of Mathematical Economics

A Textbook Of Mathematical Economics

Authors: Dr Chandrakant Singh

1st Edition

9353140986, 9789353140984

More Books

Students also viewed these Economics questions

Question

★★★★★
Of course, no country makes only investment goods like machines, equipment, and computers. They also make consumer goods. Lets consider a case where the countries in question 1 devote 25% of GDP to...

Answered: 1 week ago

Question

★★★★★
The following feed mixture is to be separated by ordinary distillation at 120 psia so as to obtain 92.5 mol% of the nC4 in the liquid distillate and 82.0 mol% of the iC5 in the bottoms. (a) Estimate...

Answered: 1 week ago

Question

★★★★★
Consider the M/M/1 system in which customers arrive at rate and the server serves at rate . However, suppose that in any interval of length h in which the server is busy there is a probability h +...

Answered: 1 week ago

Question

★★★★★
Refer to the bond details in Problem 14-4B. Required 1. Compute the total bond interest expense over the bonds life. 2. Prepare an effective interest amortization table like the one in Exhibit 14B.2...

Answered: 1 week ago

Question

★★★★★
Using the lower of cost or market, what should the total inventory value be for the following items: Total Cost Total Market Lower of Cost or Market Price Item Quantity A B C 221 85 34 Unit Cost Unit...

Answered: 1 week ago

Question

★★★★★
P L part of the SCI contains the following minimum compulsory lines: revenues share of the after - tax profits and losses of and accounted for using the equity method on disposal of assets /...

Answered: 1 week ago

Question

★★★★★
What would be your opinion about these commenta? 1. The problem with prison gangs and violence is that there is no control inside those prisons. Corrections and jail wardens have a hard time...

Answered: 1 week ago

Question

★★★★★
3 Parametric Equations Parametric Equations 1. Consider the parametric equations 3 x= t+1 = 2t 1 (a) For what values of t are the parametric equations defined? (b) Sketch a graph of the curve on the...

Answered: 1 week ago

Question

★★★★★
Complete the MPS record below for a single item. (Enter your responses as integers. A response of "0" is equivalent to being not applicable.) Item: A Order Policy: 100 units Lead Time: 1 week January...

Answered: 1 week ago

Question

★★★★★
Garvin (1988) discusses the evolution of quality concepts or philosophies as comprising of five stages. Identify these stages and establish their relevancy to any organisation today. - 3 marks will...

Answered: 1 week ago

Question

★★★★★
Question 14 Which 2 statements about creating scheduled reports are correct? (Select all that apply) Transactions in bank feeds automatically update before scheduled reports are sent You can schedule...

Answered: 1 week ago

Question

★★★★★
4. Explain how to use fair disciplinary practices.

Answered: 1 week ago

Question

★★★★★
3. Give examples of four fair disciplinary practices.

Answered: 1 week ago

Question

★★★★★
1. Chip Conley, founder of Joie de Vivre Hospitality, believes that most companies frame their financial incentives in the wrong way. Explain what he means. What does JDV do differently?

Answered: 1 week ago

Previous Question Next Question