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The role of state

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WatcharapolWongniyomkasat
TechnologyEconomy & Finance
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How to define effective government or the role of the state in the long run?
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Lieberman & Hall; Introduction to Economics , 2005 D $400 S Market Demand Curve Facing the Firm $400 Firm Ounces of Gold per Day Price per Ounce 1. The intersection of the market supply and the market demand curve… 3. The typical firm can sell all it wants at the market price… Ounces of Gold per Day Price per Ounce 2. determine the equilibrium market price 4. so it faces a horizontal demand curve
McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
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The role of state

  • 1. How to define effective government or the role of the state in the long run?
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  • 12. Lieberman & Hall; Introduction to Economics , 2005 D $400 S Market Demand Curve Facing the Firm $400 Firm Ounces of Gold per Day Price per Ounce 1. The intersection of the market supply and the market demand curve… 3. The typical firm can sell all it wants at the market price… Ounces of Gold per Day Price per Ounce 2. determine the equilibrium market price 4. so it faces a horizontal demand curve
  • 13. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
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Editor's Notes

  1. See Section 9-6 in the main text.