Economics Indicate whether the following statement are true, false, or uncertain, and most importantly defend your answer with an argument that identifies the economic and policy issues that are relevant to that statement. Each question is worth 1. While classical economists would have asserted that the equilibrium price of bananas was determined by the price of the land on which it was grown, the fertilizers, the labour, and all of the other factors of production, the marginalises decided that it is the fertilisers, labour, and land whose price is determined by the price of bananas.

Economics Indicate whether the following statement are true, false, or uncertain, and most importantly defend your answer with an argument that identifies the economic and policy issues that are relevant to that statement. Each question is worth 1. While classical economists would have asserted that the equilibrium price of bananas was determined by the price of the land on which it was grown, the fertilizers, the labour, and all of the other factors of production, the marginalises decided that it is the fertilisers, labour, and land whose price is determined by the price of bananas.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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