Another name of micro economics
What is another name of micro economics? Answer: Price theory
What is another name of micro economics?
Answer: Price theory
“Welfare by the poor to the rich” is best illustrated when: (1) an l8 year old dishwasher pays Social Security taxes to give payments to a 67 year old retired vice president of General Motors. (2) federal highway funds are diverted to a ma
Within the short run, there a purely competitive firm will close down its plant(s) and manufacture nothing when: (i) this makes no pure economic profits. (ii) normal profits were unattainable. (iii) P < ATC at all output levels. (iv) accounting pro
Elucidate Production Possibility curve with the help of a diagram? Answer: The Production Possibility Curve refers to a curve that shows various production possibil
When firms have market power although do not price discriminate perfectly, in that case the market equilibrium will be inefficient since: (w) P = AC = MC. (x) total revenue equals total costs [TR = TC]. (y) MSB = P > MC = MSC. (z)
I have a problem in economics on Problem on Categories of Goods. Please help me in the following question. The produced tangible good is termed as a: (i) Consumable. (ii) Service. (iii) Commodity. (iv) Utility. Sel
How does rise in price of a substitute good in consumption influence the equilibrium price?
If comparing market structures, when economies of scale are unimportant: (w) the most efficient form of market structure is a pure monopoly. (x) purely competitive industries and price discriminating monopolies are equally efficient. (y) price discrim
The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an
Features of Monopoly: A) A Single seller B) No close replacement available. C) No freedom for entry of new firms. D) Possibility of price discrimination.
Which one of the following statements about discretionary fiscal policy is correct? A. Discretionary fiscal policy refers to changes in taxes and government expenditures made by Congress to stabilize the economy. B. Discretionary fiscal policy refers to any change in government spending or taxes
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