cross-elasticity of demand
Interpret the following Cross-Price Elasticities of Demand (XED) and explain the relationship between these goods. (3 marks total, 1.5 marks per part) XED= + 0.64 and XED= -2.6
explain the concept of a concentration ratio. is the concentration ratio in a monoplistically competitive industry likely to be higher than for a perfectly competitive industry?
When market demands for agricultural products are relatively price inelastic and relatively income inelastic both, in that case as per capita income raises, the average income of farmers will: (w) increase while supplies of agricultur
Assume nominal GDP in the year of 2002 was $100 billion and in the year of 2003 it was $260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by: A) 160 percent. B) 44 percent. C) 37 percent. D) 1
When Nostalgia Corporation maximizes profit in its production of Silver Screen DVDs, in that case its average production cost per DVD will be roughly: (i) $3 per copy. (ii) $5 per copy. (iii) $7 per copy. (iv) $9 per copy. (v) $11 per copy.
Ex-ante investment: This is planned or desired investment throughout a specific period.
Increasing the price of a product definitely raises total revenue when the elasticity of demand is as: (w) infinity. (x) unitary. (y) relatively elastic. (z) relatively inelastic.
The absolute intensity of one consumer’s preferences and tastes as compared to the absolute intensity of the other consumer’s tastes and preferences is as: (1) Dependent on the supplies of specific products. (2) Individually recognized in
The Purely competitive labor markets are not characterized through: (1) Most of the individual sellers and buyers of labor services. (2) Wages equivalent to the marginal resource costs. (3) Labor unions. (4) Price taking sellers and buyers of the labo
Give the answer of following question .Tell examples of command economies: A) the United States and Japan. B) Sweden and Norway. C) Mexico and Brazil. D) Cuba and North Korea.
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