Define consumption function
Consumption function: The relationship among income and consumption is termed as consumption function.
The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an
At price of Rs. 20 the unit quantity demanded is 300 units. Its price downs by 10% its quantity demanded rises by 60 units. Compute price elasticity. Answer: <
According to the John Kenneth Galbraith, the modern corporate planning: (i) Aims at decreasing risks to the managers of main firms. (ii) Stresses the maximization of gains. (iii) Is much concerned with the social goals. (iv) Maximizes the social welfare.
Give me the answer of this question. The most important determinant of consumer spending is: A) the level of household debt. B) consumer expectations. C) the stock of wealth. D) the level of income.
Choose the right answer from following. Population growth remains high in most DVCs because: A) religious and sociocultural considerations favor large families. B) children may provide economic security for aging parents. C) children provide agricultural labor in rura
I have a problem in economics on Basic definition of Production. Please help me in the following question. Production is the process in which: (i) Technology and human knowledge are utilized to apply energy to convert materials to make them more preci
Assume that a firm with the market power in output market wishes to grow and that hiring more workers needs it to increase salaries 8 percent for all the workers. The output prices will most likely: (i) Increase 8 percent to cover the wage rise. (ii) Increase less tha
The removal of exploitation of labor (or wage payments beneath the value to the society of each and every individual worker’s productive contribution) is automatic when business decision makers: (1) Should set wages via collective bargaining agreements by labor
Beside a negatively sloped, that has straight-line demand curve, there one constant is: (w) price. (x) quantity demanded. (y) slope. (z) the price elasticity of demand. Please guys help to solve this problem of
Marginal revenue is NOT: (i) similar as average revenue or price for a competitive firm. (ii) identical to the price of output for firms along with monopoly power. (iii) specified by (change in TR)/ (change into Q) for all firms. (iv) derived by the d
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