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illustrate a firm under monopolistic competition?
The market supply schedule for a resource or good shows the: (i) Points in time if production is scheduled for completion. (ii) Amounts sellers wish could be given at prices exceeding the costs. (iii) Maximum quantities which will be offered for sale at particular pri
A straight-line, which positively-sloped supply curve which starts from the quantity axis is: (w) elastic for all prices and quantities. (x) inelastic for all prices and quantities. (y) unitarily elastic for all prices and quantities. (z) a sign that
Surveys or Polls: The word survey or poll usually describes a method of gathering information from a sample of individuals. In contrast to a census, where all members of the population are studied, surveys collect details from only a part of a populat
Marginal revenue: This refers to the addition prepared to the total revenue.
If Bank of America helps link an inventor in require of additional funds to develop a ground breaking invention along with a retired school teacher along with excess savings, in that case they are performing: (1) love connections. (2) financial interm
A firm which has some market power but for that long-run profit is prevented by freedom of entry and exit is engaged within: (1) pure monopoly. (2) pure oligopoly. (3) monopolistic competition. (4) socially responsible behavior. (5) pure competition.<
Choose the right answer from following. The aggregate demand curve is: A) vertical if full employment exists. B) horizontal when there is considerable unemployment in the economy. C) downsloping because of the interest-rate, real-balances, and foreign purchases effect
‘State the economic arguments on whether big cities which have congested roads must charge a road tax?’
Governmentally-imposed obstacles to the entrance of new firms within a market are termed as: (1) regulatory barriers or legal barriers to entry. (2) strategic barriers to entry. (3) natural barriers to entry. (4) tax barriers to entry. (5) revenue blockades.
The price elasticity of supply approximately measures the ratio of relative as: (w) profit to the amounts firms supply at different prices. (x) price increase necessary to induce a firm to raise output. (y) change within the quantity supplied to a rel
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