Cost which is zero
Which cost might there if output is zero? Answer: Fixed cost
Which cost might there if output is zero?
Answer: Fixed cost
Difference between voluntary and involuntry employment: Voluntary unemployment is that portion of working force not willing to engage itself is a gainful occupation. An Involuntary unemployment is that portion of labour force that is willing and capab
Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.
The minor economic inefficiencies which monopolistically competitive firms may cause are as: (w) because of their inability to ever price discriminate. (x) a price which consumers pay for a greater range of slightly differentiated goods. (y) reflected
When a successful cartel which cannot price discriminate maximizes the joint profits of its members: (1) the marginal social benefits of additional output exceed the marginal social costs of output. (2) this is impossible for any consumer to gain with
A particular monopolistically competitive firm’s total revenue is probably to increase when this: (w) increases the prices of its products and consumer demand is elastic. (x) maintains its original price even if all of its compe
Critics of negative income tax (NIT) proposals most generally argue that: (a) economic rents should be taxed at a rate of 100%. (b) in-kind services should be above and beyond generous income assistance. (c) no NIT plan would be flexible enough to sol
The Implicit costs are: (i) The opportunity costs of resources contributed by the firm’s owner. (ii) Costs that need a cash outlay. (iii) Usually comprised in the computation of accounting profit. (iv) Fictional costs which do not influence the
Lower bond prices arise simultaneously while there are increases into: (1) optimism among investors in economic capital. (2) government budget surpluses. (3) the rates of saving by households. (4) the liquidity of all financial assets. (5) interest ra
Widely accepted objectives for microeconomic policy comprise: (w) full employment. (x) general price stability. (y) economic development. (z) efficiency, freedom and equity. Hey friends please give your opinion for
Describe the steps taken in estimating N.I. by product/ value added technique? Answer: A) Classify all production units: Locate
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