Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part (a): Suppose that the demand for the Dates and supply of the Dates in Ramadan both are declined by equal amount over some period
Part (a):
Suppose that the demand for the Dates and supply of the Dates in Ramadan both are declined by
equal amount over some period of time. What you can conclude with this information? Explain
and graphically show the effect on equilibrium price and equilibrium quantity.
Part (b):
Why is money not considered to be a capital resource in economics and why is entrepreneurial
ability considered to be a part of economic resource, distinct from labor? Please suggest two most
important function of entrepreneurs, you think is must?
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