For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence').

___	Prices are set in advance of (that is, before) market trading
____	Price = average costs (direct and overhead) times (one plus the profit mark-up)
___	A technological change which makes production cheaper will be adopted by perfectly competitive firms, ultimately leading to lower prices for consumers
___	Technological change can cause obsolescence and therefore can be harmful to firms

Expert Solution

Statement 1: represents heterodox economics ('the revised sequence'). Such an idea does not come from mainstream microeconomics.

Statement 2: represents neoclassical economics ('the accepted sequence'). That is, firms set a price equal to average costs. This holds true for competitive firms in long run.

Statement 3: represents neoclassical economics ('the accepted sequence'). When technological change makes production cheaper then supply will shift to the right and reduce prices in the market.

Statement 4 represents heterodox economics ('the revised sequence'). Such an idea does not come from mainstream microeconomics.

Rahul Sunny answered 2 years ago

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence'). ____ An important role of prices is to ensure sufficient (not maximum) profits so firms can survive and grow through investment ____ Demand management ____ Some power passes from top management to his/her subordinates because only the subordinates have the specialized knowledge necessary to make informed decisions ___ Price = average revenue according to demand...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence'). ___Firms compete through their investments (as opposed to price) ___Price = average revenue according to demand at the quantity where marginal cost = marginal revenue ___Some power passes from top management to his/her subordinates because only the subordinates have the specialized knowledge necessary to make informed decisions ___The goals of the firm reflect its owners'...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence'). ____ Price competition is very often destabilizing, threatening the survival of the firm ____ Price competition between firms is an essential part of the equilibrating process in capitalist economies ____ An important role of prices is to ensure sufficient (not maximum) profits so firms can survive and grow through investment ____ Demand management

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence').

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence').___Consumer sovereignty____Prices change rapidly according to supply and demand, with competition ensuring that price reflects minimum average costs of production__Price competition generally benefits society as a whole___Prices in most markets are administered by the dominant firms in that market

For each of the following, indicate whether the idea is most closely associated with the first...

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second industrial revolution, neither, or both. Question 1 options: 1 Railroads 12 Time zones 3 The steam engine 4 Steam boats 5 Mechanization 5 Telegraph 6 A technological (as opposed to political) revolution 7 The internet 8 The possibility of traveling from coast to coast in the US in under a week 1. First Industrial Revolution 2. Second Industrial Revolution 3....

For each of the following, indicate whether the idea is most closely associated with the first...

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second industrial revolution, neither, or both. Question 1 options: 1234 Steam boats 1234 Time zones 1234 The internet 1234 Railroads 1234 The steam engine 1234 Mechanization 1234 Telegraph 1234 The possibility of traveling from coast to coast in the US in under a week 1234 A technological (as opposed to political) revolution 1. First Industrial Revolution 2. Second Industrial Revolution 3....

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second industrial revolution, neither, or both.

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second industrial revolution, neither, or both. Mechanization The possibility of traveling from coast to coast in the US in under a week Feedback loops The internet The flying shuttle The steam engine Railroads Telegraph A technological (as opposed to political) revolution 1. First Industrial Revolution 2. Second Industrial Revolution 3. Neither 4. Both

Question

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

Solutions

Expert Solution

Related Solutions

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics...

For each of the ideas below, indicate whether it is most closely associated with neoclassical economics ('the accepted sequence') or heterodox economics ('the revised sequence').

For each of the following, indicate whether the idea is most closely associated with the first...

For each of the following, indicate whether the idea is most closely associated with the first...

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second industrial revolution, neither, or both.

Cellular respiration is most closely associated with the

The function most closely associated with Structure A

Who is most closely associated to cultural feminism?