--%>
Assignment Help - homework help

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?

   Related Questions in Microeconomics

  • Q : Problem relating to Changes in Demand

    Airlines considerably decreased the number of flights accessible in the year 2005, as compared to flight availability during the year 2000. Passenger mileage was fall. Economists would be least possible to ascribe the decline in airline ticket sales throughout the ear

    		•
  • Q : Define regressive in taxes as

    Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive.

    Q : External costs and external benefits

    Question: (a)         Explain the impact of external costs and external benefits on resource allocation; (b)     

    		•
  • Q : Theory of mercantilism Explain what was

    Explain what was the theory of mercantilism?

    		•
  • Q : Capital resources Select which of the

    Select which of the following lists includes only capital resources (and therefore no labor or land resources)? 1) an ice arena; a professional hockey player; hockey uniforms. 2) the owner of a new startup firm; a chemistry lab; a researcher. 3) a hydroelectric dam; w

    		•
  • Q : Unemployment among skilled workers

    Rises in the legal minimum wage rate have not been blamed for rising: (i) Unemployment among the teenagers. (ii) Racial discrimination in the employment. (iii) Unemployment among trained workers who have lost their jobs since of competition from the cheaper imports. (

    		•
  • Q : Characteristic of the market system

    Select the right ans wer of the question. Which of the following is not a characteristic of the market system? A) private property. B) freedom of enterprise. C) government ownership of the major industries. D) competition in product and resource markets.

    		•
  • Q : Define product market Product market :

    Product market: It comprises of final services and goods.

    		•
  • Q : Resource market in equilibrium demand

    When the resource market shown in this illustrated figure is initially within equilibrium along with demand curve D0: (w) owners of these resources currently receive no economic rents. (x) economic rent is specified by area

    		•
  • Q : Implication of perfect knowledge

    Describe the implication of perfect knowledge regarding market beneath perfect competition.

    		•