Question
How can Austrian Economics influenced by these factors? (about one-half paper) Thanks! 1. supply, and factors that affect it, 2. demand, and factors that affect
How can Austrian Economics influenced by these factors? (about one-half paper) Thanks!
1. supply, and factors that affect it,
2. demand, and factors that affect it,
3. market equilibrium price and quantity,
4. efficiency in generation of consumer and producer surplus,
5. demand and supply elasticities of price, cross price or income,
6. variations in consumer and producer surplus for elastic versus inelastic demand or supply conditions,
7. government interventions in the form of
1. price controls (ceilings or floors), when price controls are binding or not,
2. taxes (ad valorem, per unit) on demand or supply, and
3. subsidies (ad valorem, per unit) on demand or supply
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