Define deficient demand
Deficient demand: If AD < AS at full employment level, then it is defined as deficient demand.
I have a problem in economics on Quantity demanded in Substitution process. Please help me in the following question. The sales growth resultant from price cuts for a good reflects rises in: (i) Quantity demanded. (ii) Demand. (iii) Quantity supplied.
When this figure demonstrated Lorenz curves for distribution of income after taxes and transfers, in that case it is UNTRUE of the Lorenz curves demonstrated in this demonstrated figure that: (1) line 0E0' represents a Lorenz curve of
When Rose Garden Wholesalers has a typical type cost structure of rose farms within this purely competitive industry, into the long run new competitors would most likely enter the market providing the wholesale price
Whenever two parties encompass unequal levels of knowledge regarding issues in the bargaining situation: (i) Potential abuses of the asymmetric information exist. (ii) The payoff matrix is invariably asymmetric. (iii) The more knowledgeable negotiator will profit from
The only profit earned within the long run through a purely competitive firm is of: (w) normal accounting profit. (x) offset by short term losses. (y) created by exceptionally astute managers. (z) unrelated to its opportunity costs. Q : Charge price similar to marginal cost When a profit-maximizing monopolist who does not price discriminate charges a price equal to its marginal cost, this will: (w) minimize average cost and generate zero economic profit. (x) minimize average cost and gen
When a profit-maximizing monopolist who does not price discriminate charges a price equal to its marginal cost, this will: (w) minimize average cost and generate zero economic profit. (x) minimize average cost and gen
The cross price elasticities of demand are possibly most positive for: (w) shoe repairs and new shoes. (x) syrup and waffles. (y) gasoline and limousines. (z) college tuitions and textbooks. How can I solve my
Most of the people can’t modify relative market prices however have a little control over the relative subjective prices of the goods they consume. They are most probable to make market prices and subjective prices compatible when they: (i) Raise purchases of go
Is import of machinery recorded in capital or current account? Answer: It is recorded in current account since it deals as the purchase of goods.
The incentive to work and earn income is probable to be greatest when the basic welfare benefit is ____ and the fundamental welfare benefit is reduced by ____ which the person earns. (w) high, the amount (x) low, the
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