Complementary Goods-Decreasing price of goods
A reduction in the price of vanilla ice-cream is likely to raise the demand for: (i) Chocolate syrup. (ii) Yogurt. (iii) Watermelon. (iv) Cookies (v) Textbooks. Can someone please help me in finding out the accurate answer from the above options.
A reduction in the price of vanilla ice-cream is likely to raise the demand for: (i) Chocolate syrup. (ii) Yogurt. (iii) Watermelon. (iv) Cookies (v) Textbooks.
Can someone please help me in finding out the accurate answer from the above options.
why demand change of onion in during one week due to change in it's price?
The needs standard for income distribution would certainly involve: (w) difficulty in the measurement of productivity. (x) an enormous bureaucracy. (y) greater incentives for production than the contribution standard. (z) economic ef
When a collective bargaining contract comprises a ‘check-off provision’: (1) Union workers can be fired when they don’t meet the production quotas. (2) Firms gather the union dues through deducting them from the paychecks. (3) Workers are needed to d
The widespread and unregulated exercise of monopoly power is probable to result within: (1) economic inefficiency because price exceeds marginal cost. (2) the value of national income being higher than under competition. (3) a politically more accepta
For a profit-maximizing pure competitor in the short-run equilibrium: (w) P = MC = MR. (x) MC = minimum AC. (y) MR > P. (z) only normal profits will be earned. Hey friends please give your opini
What are the various functions of price mechanism in a free market economy?
Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
At price of Rs. 20 the unit quantity demanded is 300 units. Its price downs by 10% its quantity demanded rises by 60 units. Compute price elasticity. Answer: <
The technology is such that LAC is minimized at firm’s output equivalent to 10 and minimum LAC is Rs. 15. Assume that the demand schedule for the product is given as shown: Q : Problem regarding Substitution of goods When tuna fish ice cream and licorice gummy bears are substitutes, then: (1) Decline in the price of licorice gummy bears raises the demand for tuna fish ice-cream. (2) The demand for tuna fish ice-cream is independent of price of licorice gummy bears. (3) Consuming m
When tuna fish ice cream and licorice gummy bears are substitutes, then: (1) Decline in the price of licorice gummy bears raises the demand for tuna fish ice-cream. (2) The demand for tuna fish ice-cream is independent of price of licorice gummy bears. (3) Consuming m
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