2012.04.30 - ECON1101, Week 9 Lecture Notes

Why do supermarket checkout queues all tend to be

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Unformatted text preview: ISIBLE HAND IN ACTION !  Why do supermarket checkout queues all tend to be roughly the same length? 9-23 INVISIBLE HAND AND COST-SAVING INNOVATIONS Why do tomato growers develop cost-saving innovations when the market is highly competitive and they know they will always earn a zero economic profit in the LR? 9-24 INVISIBLE HAND AND THE GOVERNMENT REGULATION Why do taxi licences sell between $250,000 and $300,000 in some Australian capital cities? 9-25 INVISIBLE HAND AND STOCK MARKET !  Share: A claim to a portion of a company’s current and future accounting profits !  Present value: The amount of money we would need to invest today at a given interest rate in order to generate a given amount of money at a specified date in the future 9-26 EFFICIENT...
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This note was uploaded on 03/12/2014 for the course ECON 1101 taught by Professor Julia during the Three '08 term at University of New South Wales.

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