Explain the importance of the ceteris paribus or other-things-equal assumption.

Question:

Explain the importance of the ceteris paribus or "other-things-equal" assumption.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

See More Books

Question Posted: Dec 05, 2017 07:47 AM

See More Questions

Multiple Choice Questions: 1. Which of the following is most likely a topic of discussion in macroeconomics? a. An increase in the price of a pizza b. A decrease in the production of VCRs by a...
Explain the importance of a time line.
Explain the importance of a vision and a mission statement.
1) Determine the pH of a 4.3*10^-4 M NaOH solution. 2) why would we say that a solution with a H+ concentration of 1.00*10^-7 M is said to be neutral if it contains acid, shouldn't be acidic?
A freshwater marsh is drained to the ocean through an automatic tide gate that is 4 ft wide and 3 ft high. The gate is held by hinges located along its top edge at A and bears on a sill at B. At a...
Give an example of a recent business situation that illustrates justice being served (or not). In light of the role of HR in perpetuating workplace, how might HR have best influenced this situation?
Small and medium enterprises (SMEs) have played a major role in economic growth across the globe. They are major contributors to national economies in terms of their contribution to employment,...
Fit & Slim is a health club that offers members various gym services. F&S accounts reports. Required: 1. Assume F&S offers a deal whereby enrolling in a new membership also entitles the member to...
3. A convex spherical mirror, whose focal length has a magnitude of 15.0 cm, is to form an image 10.0 cm behind the mirror. a. Where should the object be placed? b. What is the magnification of the...
The Durham Insurance Company sells a five-year term insurance policy with face value of $100,000 to a 47-year-old man for a monthly premium of $63. The mortality table is given below. d. What is the...
Happy Cow Dairy Inc. produces milk at a total cost of $75,000. The production generates 55,000 gallons of organic milk which can be sold for $2 per gallon to a pasteurization company, or the milk can...
Describe and give a reason for the law of supply.
let (Q((x)) have the ordering described in Example 25.9. List the labels a, b, c, d, e of the given elements in an order corresponding to increasing order of the elements as described by the relation...
Take the example of two countries that produce random amounts of rice and can trade claims on that product. Suppose the two countries also develop fisheries but cannot export the fishes because of...
Some businesses make a practice of sending goodwill messages to some of their customers. Pick a business you patronize that might logically send some thank-you notes. Write a suitable note and design...
Interview three marketing managers who are responsible for sponsorship decisions in their organization. Determine how each evaluates the effectiveness of their sponsorship.
Should courts allow an escapee from prison to assert as a defense the prisons failure to provide essential medical treatement to the prisoner? If this is to be recognized as a basis for a defense of...
In 2012, the Game Group filed for insolvency. Using Altmans Z-score analysis, would you have been able to predict its financial distress? What is your interpretation of the results? Are there any...
In a medium-sized New Zealand city, 90 houses are for sale, each with about 180 m 2 of floor space. The asking prices vary. The frequency distribution shown contains the price categories for the 90...
Continuation of Exercise 4-83. (a) What is the probability that the first major crack occurs between 12 and 15 miles of the start of inspection? (b) What is the probability that there are no major...
Printed circuit cards are placed in a functional test after being populated with semiconductor chips. A lot contains 140 cards, and 20 are selected without replacement for functional testing. (a) If...
Magnetic tape is slit into half-inch widths that are wound into cartridges. A slitter assembly contains 48 blades. Five blades are selected at random and evaluated each day for sharpness. If any dull...
A state runs a lottery in which 6 numbers are randomly selected from 40, without replacement. A player chooses 6 numbers before the states sample is selected. (a) What is the probability that the 6...
The highest WACC is 11%, the baseline WACC is 7.4% and lowest WACCS is 2.8%. To derive a WACC that better accounts for extreme scenarios, you decide to assign the following probability weights: High-...
Give 2 examples of the ff: Statutory law Regulatory law Common law Include the title of each example and explain why you chose these examples ( 1 to 2 sentences ) . Note: Write your reference ( s )
The Adams family includes a financially well-informed couple, both aged 36, and two children aged 4 and 6. The family is financially sound but suffered badly during the tech meltdown in 2000. The...

Explain the importance of the ceteris paribus or other-things-equal assumption.

Question:

Step by Step Answer:

Because economics is apprehensive with realworld conduct it is not possible t...View the full answer

Exploring Economics

Students also viewed these Cost Accounting questions