Compare average household income
How you compare the average household income of the different countries?
Expert
For the best answer of this question it is best to look at median household income . Median household income signifies the statistical mid-point, with half of all households making more and half making less.
For the developed nations, median household income figures range from $30,000 to $55,000. For US states median household income figures range from $32,000 to $57,000. Overall, median household income levels among developed nations are similar to those found among US states.
In an oligopoly, as opposite to monopolistic or pure competition, industry output within the long run is probable to be: (1) lower along with reduced prices. (2) about similar but with higher prices. (3) lower and with higher prices.
expectations of price hike for durable goods tend to:
If a monopolist’s marginal revenue is zero, then: (1) total revenue is zero. (2) demand is perfectly inelastic. (3) the price of the product exceeds average cost. (4) economic profit is zero. (5) total revenue is maximized. Q : Utility function notes on separable notes on separable utility function in microeconomics
notes on separable utility function in microeconomics
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When this firm is a typical pure competitor within this industry as in demonstrated figure, then the firm is: (i) making normal accounting profit. (ii) making zero economic profit. (iii) breaking even. (iv) into an industry within long run equilibrium
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