concentration ratio
Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry
The strikes tend to be resolved after worker’s savings trickle down to a discomfort region and there is an exhaustion of: (i) Public tolerance, causing government to set the fair settlement. (ii) Managers and inventories, causing the firms to increase their offe
When the firms are earning abnormal gains, how will the number of firms in industry change? Answer: The number of firms in industry will tend to rise.
The interest rate will most likely rise when: (1) households decide to delay consumption, causing the loanable funds accessible for business investments to raise. (2) investors become more optimistic into relation with the profitability of investment.
In the long run: (i) purely competitive firms make zero economic profits. (ii) monopolistically competitive firms make zero economic profits. (iii) effective barriers to entry may permit economic profits. (iv) oligopolists and monopolists may realize
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
When the slope of the demand for wheat is ten, we can predict now that a higher price of wheat will be as: (w) increase total expenditures on wheat. (x) reduce total expenditures on wheat. (y) not influence total expenditures on wheat. (z) More information is required
Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
Which of the given two statements involves positive economic analysis and which normative? How do the two type of analysis differ?a. Gasoline rationing (allocating to each year to each individual an annual maximum amount of gasoline whi
A monopolist has an inverse demand curve given by p(y) = 12 - y and a cost curve given by c(y) = y2. (a) What will be its profit maximizing level of output?
Define aggregate demand: Aggregate demand is stated as the money value of total goods and services demanded by an economy throughout a particular period.
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