Area below supply curve of resource
The area below a resource’s price line although above its supply curve is: (w) consumer surplus. (x) monopoly profit. (y) excess value. (z) economic rent. Can anybody suggest me the proper explanation for given problem regarding Economics generally?
The area below a resource’s price line although above its supply curve is: (w) consumer surplus. (x) monopoly profit. (y) excess value. (z) economic rent.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?
Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.
Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.
If new soap operas that, although same to the previous ones, all are advertised as original and new, the TV networks are engaging within: (i) bait and switch. (ii) product differentiation. (iii) monopolistic competition. (iv) dynamic game theory. (v)
The philosophers in this demonstrated graph are enjoying economic rent equal to: (w) shaded area A. (x) shaded area B. (y) shaded area C. (z) the sum of the shaded areas. Q : Characterized purely-competitive markets Purely-competitive markets are NOT characterized through: (i) substantial barriers to entry and exit. (ii) many small potential buyers. (iii) many small potential sellers. (iv) homogeneous products. (v) zero long-run economic profits. Q : Inferior Goods used in American family The most probable of the following to be an inferior good for most of the American families who buy some of each of such products would be: (i) Spam, that is a canned meat product. (ii) Plastic surgery. (iii) Concert tickets. (iv) Gasoline. (v) College textbooks.
Purely-competitive markets are NOT characterized through: (i) substantial barriers to entry and exit. (ii) many small potential buyers. (iii) many small potential sellers. (iv) homogeneous products. (v) zero long-run economic profits. Q : Inferior Goods used in American family The most probable of the following to be an inferior good for most of the American families who buy some of each of such products would be: (i) Spam, that is a canned meat product. (ii) Plastic surgery. (iii) Concert tickets. (iv) Gasoline. (v) College textbooks.
The most probable of the following to be an inferior good for most of the American families who buy some of each of such products would be: (i) Spam, that is a canned meat product. (ii) Plastic surgery. (iii) Concert tickets. (iv) Gasoline. (v) College textbooks.
Purely competitive buyers and sellers are: (w) price-takers. (x) price-makers. (y) powerless to make decisions. (z) quantity-takers. Hello guys I want your advice. Please recommend some views for above Econ
Reliance on private demands and supplies to assign goods and resources is least certain to outcome an economically ineffective solution just because: (i) Producers encompass monopoly power. (ii) A good is non-rival and non-exclusive. (iii) Consumption
When consumers ultimately cannot distinguish one roasted chicken dinner from other, when roasted chicken dinners are produced within a constant cost industry, and when no barriers to entry or exit exist, in that case the long-
The economy consists of two consumers, A and B. Both consumers are endowed with one unit of good 1 and one unit of good 2. Consumer A is entirely indifferent between all consumption plans. Consumer B has the utility function u(xB1 ; xB
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