What is the main cause of the uneven distribution of economic growth seen around the world?
What will be an ideal response?
The main cause of the large differences in the per capital GDP levels of countries around the world is their different starting dates for modern economic growth.
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Suppose the demand for Pepsi-Cola is qp = 54 – 2pp + 1pc. The demand for Coca-Cola is qc = 54 - 2pc + 1pp. Each firm faces a constant marginal cost of zero. Determine the Bertrand equilibrium prices
What happens to the Bertrand equilibrium prices and profits if increased differentiation causes the demand for Pepsi-Cola to become qp = 104 - 2pp + 1pc while the demand for Coca-Cola remains unchanged?
The graph shown demonstrates a tax on buyers. What is the amount of tax revenue being generated from the tax?
A. $72
B. $36
C. $48
D. $96
If a person's indifference curves can be represented as a straight line, the person views the goods as
a. perfect substitutes b. perfect complements c. complements (but not perfect) d. substitutes (but not perfect)
World Bank funds are largely acquired through interest earned on the deposits of member nations
a. True b. False Indicate whether the statement is true or false