Define aggregate supply
Define aggregate supply: Aggregate supply is the money value of net or total supply of services and goods available for purchase by an economy throughout a given period.
If MPP is zero, what can you state regarding TPP? Answer: TPP is at its maximum.
Can someone help me in finding out the right answer from the given options that the demand for sport utility vehicles is most probable to decline in response to main rises in: (1) Consumer’s income. (2) The number of consumers. (3) Relative prices for pickups an
The Exploitation might not exist even when the wage a worker is paid is less than worker’s: (1) Average revenue product. (2) Marginal revenue product. (3) Marginal factor cost. (4) The value of marginal product. Can someone p
Illustrate any three causes of decrease in demand? Answer: 1) Reduce in income of consumer. 2) Fall in the price of alternate good.3) Increase in the price of complementary goods.
The modification in purchases which results since changes in relative prices modify the purchasing power of a consumer's income is termed as: (i) Adjustment margin. (ii) Income effect. (iii) Demonstration effect. (iv) Transfer pattern. (v) Replacement
How tourism effects in an upcoming industry?
Why is economics seen like a social science?
Define Average Variable Cost. And also state its formula.
Can someone help me in finding out the right answer from the given options. Hourly salaries as reflected in take-home pay are probable to be less than the values of worker’s marginal product (or VMP) in part since of: (1) Monopsonistic exploitation which causes
The most common type of competition among firms in monopolistic competition is: (1) price competition. (2) product differentiation. (3) collusion. (4) predatory pricing. (5) cutthroat competition. I need a good ans
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