Define abnormal profit
Abnormal profit: It is the gain earned over and above the normal profit.
A firm can practice price discrimination when this: (i) confronts a perfectly elastic demand curve. (ii) is a pure quantity adjuster. (iii) has several monopoly power and is capable to separate its customers in various groups with different elasticiti
The demand curve for physical capital: (1) does not depend on the amount of labor available. (2) generates a supply of loanable funds to finance new investment. (3) depends onto the marginal productivity of capital. (4) is exactly parallel to the amou
Since demands for resources eventually depend upon consumers’ demands for goods, in that case the demand for labor is: (w) termed as a derived demand. (x) a perfectly elastic demand curve. (y) a perfectly inelastic demand. (z) a horizontal line.
The Lorenz curve gives an indication of: (w) the poverty rate. (x) dead end poverty. (y) relative poverty. (z) post-transfer poverty. Can someone explain/help me with best solution about problem of Economic
Government budget: Government budget demonstrates the estimated receipts and estimated expenses of the government for 1-year.
The interest rates business investors into economic capital should pay on a loan: (w) reflect the opportunity costs to society of funding one investment in place of another. (x) are relatively trivial investment costs by investors&rsq
Economists suppose that most monopolists wish for maximize: (i) accounting profit. (ii) the prices they charge. (iii) total revenue. (iv) economic profit. (v) output. I need a good answer on the topic of Ec
The excess of papayas would appear when: (1) seller’s supply prices increase to P1. (2) Govt. set a price ceiling of P1. (3) Growers predicted prices to soar. (4) Hurricane destroyed all Central American papaya plantations. (5) Government obliged a price floor o
The view which big corporations unfailingly capture much stable shares of spending out of national income is: (i) Accepted by almost all the economists. (ii) Contrary to the confirmation of turnover among big over the decades. (iii) The symptom of strong competition.
When the prices of generic yachts rise by $500,000 to $600,000, causing yearly sales to drop from 30,000 to 10,000, in that case the price elasticity of demand for such yachts equals: (w) 11.00. (x) 2.75. (y) 5.50. (z) 13.75.
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