Define cost
Cost: This refers to the money expenses acquired on the production of a specified amount of commodity.
A person’s wage income into excess of which that would be received by accepting the next best optional use of his or her talents is: (1) an economic rent. (2) a transfer payment. (3) an interest premium. (4) a salary bonus. (5) nominal wages.
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
Interest Rate Price Risk: The risk which occurs for bond owners from fluctuating interest rates is termed as interest rate risk. How much interest rate risk a bond has based on how sensitive its price is to interest rate modifications.
Economists frequently suppose that equilibrium output for any firm arises where: (w) revenue is maximized. (x) revenue is rising. (y) profit is rising. (z) profit is maximized. Can someone explain/help me with best
Difference between collusive and non-collusive oligopoly. Elucidate how oligopoly firms are interdependent in taking price and output decisions.
Monsieur Cournot has a monopoly on an artesian well from that flows tasty spring water along with medicinal properties. To ignore variable costs, he insists which customers bring their own pails as well as fill them individually. Cour
Mike trades 6 vintage baseball cards for the Jake’s original Ty Cobb card. When Mike’s six cards had equivalent total market value with Jake’s Ty Cobb card, then this trade would show: (i) Unfair incentive. (ii) Demand price. (iii) Opportunity cost.
A government decrease of the price ceiling upon a good will: (w) result in a decrease into the excess demand for the good. (x) result within an increase in the excess demand for the good. (y) lead to a greater quantity supplied. (z) cause a reduction
I have a problem in economics on Bilateral Monopoly problem. Please help me in the following question. The bilateral monopoly is in operation when: (1) The firm is mere employer of some labor force and a union is the mere supplier of the labor for tha
When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.
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