Competitive theory of prices
There is a short period perfectly competitive theory of prices although not a long period perfectly competitive theory of prices. Is this because the reason that in the long period we are dead? Discuss it out.
Features of oligopoly: Following are some principal features of oligopoly : A) A few firmsB) High degree of interdependence.C) Non-price competition.D) Entry barriers.E) Formation of cartels
I have a problem in economics on Monopsony. Please help me in the following question. The monopsonist is a price: (1) Taker as a buyer. (2) Taker as a seller. (3) Maker as the seller. (4) Maker as the buyer. Choose
Tell me the answer of this question. Economists would describe the U.S. automobile industry as: A) purely competitive. B) an oligopoly. C) monopolistically competitive. D) a pure monopoly.
The Realto Theatre purchased a new projector costing $37,000 on January 1, 2010. Since of changing technologies, the projector is predictable to last five years after which it will be obsolete and contain a salvage value of $1,000 as a collectors item. Compute the
I have a problem in economics on Quantity demanded to exceed quantity supplied. Please help me in the following question. A shortage takes place whenever the current market price causes: (1) Quantity demanded to surpass quantity supplied. (2) Quantity
Choose Which one best describes the invisible-hand concept? 1) The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. 2) The nonsubstitutability of resources creates a conflict between private
State what affect the most in Great Depression?
At each possible output level, there a purely competitive firm’s marginal revenue curve is: (w) above its demand curve. (x) below its demand curve. (y) identical along with its demand curve. (z) steeper than its demand curve. Q : Relatively price inelastic and consumer When demand for a consumer good is relatively price inelastic, in that case the: (i) total spending of consumers will decline when the price rises. (ii) demand curve is linear and vertical. (iii) price of the good is determined through supply alone. (
When demand for a consumer good is relatively price inelastic, in that case the: (i) total spending of consumers will decline when the price rises. (ii) demand curve is linear and vertical. (iii) price of the good is determined through supply alone. (
The demand for textbooks has transferred from D0 to D1 whereas supply changed from S0 to S1. Such shifts make sure that the market equilibrium: (w) price will increase. (x) price will fall.
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