Define budget line
Budget line: Budget line exhibits all combinations of two goods which a consumer can purchase with his income at a specified price.
To assert that a firm made exactly zero economic profits as well signifies that it made: (i) Zero accounting profits. (ii) Normal economic profits. (iii) Negative accounting profits. (iv) No profits at all. Choose the right answer
In 1700s what currency was employed?
Line T1 depicts in given graph as in below a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Q : Reading Production Possibilities I have a problem in economics on reading the Production Possibilities Frontiers graph. Please help me in determining the right answer from the following question. The graph below depicts the mythical country of the Sandwichia’s: Q : Properties of indifference curves Properties of indifference curves: The 3 properties of indifference curves are as shown below:A) Slopes downward from left to right: To consume more of onegood the consumer should give up li
I have a problem in economics on reading the Production Possibilities Frontiers graph. Please help me in determining the right answer from the following question. The graph below depicts the mythical country of the Sandwichia’s: Q : Properties of indifference curves Properties of indifference curves: The 3 properties of indifference curves are as shown below:A) Slopes downward from left to right: To consume more of onegood the consumer should give up li
Properties of indifference curves: The 3 properties of indifference curves are as shown below:A) Slopes downward from left to right: To consume more of onegood the consumer should give up li
Demand schedule: This is a tabular symbolization of different quantities demanded at various levels of prices.
The farmer stores corn after its harvest in the fall and then vends it in the spring as a hog food at very higher price. The raised value of the corn is due to its modifying: (i) Place. (ii) Form. (iii) Possession. (iv) Time. Can s
The summation of monopolistic exploitation across all the workers tends to raise however a firm as well operates at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (1) Blacklisting in its dealings t
The objective of a cartel is to: (w) permit every member firm to maximize profit. (x) foster competition among sellers. (y) enhance efficiency and lower prices to consumers by eliminating several wasteful forms of competition. (z) maximize the joint p
The present value of an asset refers to the: (w) consumer surplus derived from the asset throughout the current period. (x) value today of any expected income payments related with owning the asset. (y) economic rent realized after paying the market p
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