Payments to households not in exchange for goods and services currently produced a

Q: definition of products, goods and services

A: TO understand the definition of these terms, we need to understand that goods and products are used…

Q: the quantity of a good or service which consumers want and have the ability to purchase

A: Quantity- It is the number or amount of goods or services.

Q: The amount of a good that buyers are willing and able to purchase at a given price.

A: Consumer theory is the theory that deals with determination of a point at which a consumer maximizes…

Q: An equation for Aggregate Expenditure is: AE = $3600 0.8Y, In equilibrium, Income 'Y' = Aggregate…

A: Given:

Q: The figure given below shows revenue and cost curves of a monopolistically competitive firm. Figure:…

A: 18. As shown in diagram 12.1 the profit-maximizing condition of a monopolistic competitive firm is…

Q: I need help with this

A: OPPORTUNITY COST:     Opportunity cost is the benefit lost by an individual, investors, or business…

Q: is consumer spending likely to go up or down in the next 12 to 18 months

A: Consumer Spending: This refers to the total amount of money spent by individuals or households on…

Q: Gilberto lives in Detroit and runs a business that sells pianos. In an average year, he receives…

A: Hi, thanks for the question, as per the guidelines we are allowed to attempt the first question. If…