Define consumption function
Consumption function: The relationship among income and consumption is termed as consumption function.
Within this kinked demand curve model, when this firm operated at point a and increased its price from P2 to P3 but other firms did not increase their prices, in that cases equilibrium for this firm would move to be: (w) point b.
When this monopoly generates Q units: (1) P > MC. (2) MR = MC. (3) total revenue total cost is maximized. (4) MSB > MSC. (5) All of the above. Q : High demand facing relatively Total revenue for Macho Man fake mustaches increased after the price raised from $15 to $17, showing that demand faced throguh Macho Man was: (i) relatively elastic. (ii) relatively inelastic. (iii) unitarily elastic. (iv) perfectly elastic. (v) perfe
Total revenue for Macho Man fake mustaches increased after the price raised from $15 to $17, showing that demand faced throguh Macho Man was: (i) relatively elastic. (ii) relatively inelastic. (iii) unitarily elastic. (iv) perfectly elastic. (v) perfe
When animal rights activists persuade several fur coat buyers to switch to micro-fiber jackets as well as pelt prices decrease from $150 to $50 each, resultant in the baby seal harvest decreasing from 18,000 to 6,000 yearly, in that case the price elasticity
Business firms least commonly finance investment within new economic capital by: (w) retained earnings. (x) the issuance of common or preferred stocks. (y) borrowing from banks or other financial institutions. (z) gra
The transfer of wealth from industrialized countries to oil exporting countries (OPEC) which followed skyrocketing oil prices within the 1970 year indicates such that the price elasticity of demand for oil: (w) relatively low. (x) relatively high. (y)
A purely competitive firm will shut down while: (w) marginal costs exceed marginal revenues. (x) this cannot cover its fixed costs. (y) marginal revenue falls below average total costs (z) this can’t cover its variable costs. Q : Labor History-Yellow Dog Contracts The The Yellow dog contracts are now outlawed, however in the early 20th century such agreements among employers: (1) Not to purchase intermediate goods generated by unionized labor hindered labor market re-forms. (2) And workers specifying that the workers would not conn
The Yellow dog contracts are now outlawed, however in the early 20th century such agreements among employers: (1) Not to purchase intermediate goods generated by unionized labor hindered labor market re-forms. (2) And workers specifying that the workers would not conn
Differentiate between project feasibility study and project proposal?
Can there be certain fixed cost in long run? If not why? Answer: No, there can’t be any fixed cost in long run. The main reason is that there is no fixed inpu
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