on the good. When it decreases‚ the producer receives a price closer to the minimum acceptable. The consumer surplus measures what the consumer is willing to pay and that price’s difference from the market price. The closer to the market price‚ the higher the consumer surplus‚ as consumers are spending less than they are willing to‚ and the less spent‚ the lower the revenue will be for the good. Materials Producer Surplus Top of Form 2 . An increase in the price of an inelastic good A. decreases
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Oedipus‚ Antigone‚ and the Poetry of Sappho Question One: Fully explain who Laius is‚ how he died‚ and how Laius’ s death led to the downfall of Oedipus. (5 points max) Laius was the first husband of Jocasta‚ and the biological father of Oedipus. The play begins when Laius is already dead‚ and it is explained that he was overtaken by a gang of thieves on a crossroad and killed by an unknown man. It is later found out that the son of Laius is responsible for the murder. Before the boy is born to
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exchange. If you are selling something‚ you are a producer. 5. What is a consumer? (0.5 points) A consumer is someone who buys or trades in order to receive the commodity. If you are buying something‚ you are a consumer. 6. What is a good? (0.5 points) A good is an item of value that a person can buy or make and then sell to other people‚ such as a t-shirt‚ cake‚ or painting. 7. What is a service? (0.5 points) A service is something of value that a person can do for other people‚ such
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Ms. Brooks 03/10/2012 UNIT 5 Essays Differentiate between fraud and abuse. Define fraud and abuse‚ identify at least three elements of each‚ and contrast the differences between them. Cite illustrative examples of the differences. Fraud is any and all means a person uses to gain an unfair advantage over another person. In most cases‚ to be considered fraudulent‚ an act must involve: – A false statement (oral or in writing) – About a material fact
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1. What is Bank? Institution which accept deposit for lending Banks are the financial institutions that mobilise the savings of the community and make them available to the people for generating income. A bridge between the user of capital and those who save but can’t use the funds themselves. 2. What are the functions of Banks? 1. Receipts of Deposits: 3 types of deposits- Current deposits‚ Savings deposits‚ Term deposits 2. Lending of Money: Cash Credit‚ Over Draft‚ Loans and Advances 3. Agency
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the definition of social group. Give the definition of social group. Name the types of social groups and explain their peculiarities. 1. What are the types of solidarity according to Emile Durkheim? Give a definition of them. 2. What sort of questions do sociologists address? 3. Characterize age stages of human life. 1. What are the basic concepts of structural - functionalism‚ the conflict approach and symbolic interactionism? 2. What is the scientific method and how can it be applied to
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best and __exchange_ for those needs that others do better 3 The term _product market___ is a place where and economic exchange occurs between buyers and sellers. 4 There is a‚ an (inverse‚ direct)_inverse__ relationship between the price of a good and the quantity we will purchase. This is the law of __demand______ 5 The demand curve slopes (upward‚ downward) __downward___ left to right. 6 When _ceteris Paribus____ assumption is ignored‚ the demand curve will _shift_______
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American History X The movie American History X is designed to show a better understanding of the serious racism-taking place in America today. The graphic and somewhat upsetting film shows anger and dislike between a “ghetto” black community and a white neo-nazi gang. One of the main ideas in this movie is to show how someone whose whole life has been centered around racism and later he realizes that all races should be treated with equal respect. Derek who is the main character of the movie has
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The National Judiciary 520526 Complete the following questions in complete sentences. 1.What is the difference between original jurisdiction and appellate jurisdiction? What kind of jurisdiction does the Supreme Court have? Original jurisdiction is when a court hears a case first. While appellate jurisdiction is when a court hears a case on appeal from a lower court. The Supreme Court has both original and appellate juridiction. 2.What role should judicial philosophy play in selecting federal
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Holden’s brother and he calls him a prostitute because he sells himself as a writer. 3. Pencey Prep is the school Holden attends. 4. Holden is leaving because he failed all his classes but one‚ he feels passive. Chapter 2 1. Mr. Spencer is his history teacher and Holden visits him because he is a nice guy 2. Holden describes himself as an average guy? 3. Mr. Spencer reads the essay because it is a failure of an essay‚ a joke. Holden is not happy by having the essay read aloud to him. 4. Whooton
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