Define deficit budget
Deficit budget: When expenditure of the government is greater than its receipts, it is termed as deficit budget.
Severe drought outcomes in a drastic fall in the output of wheat. Examine how will it influence the market price of wheat? Answer: As an outcome of severe drought,
A particular monopolistically competitive firm’s total revenue is probably to increase when this: (w) increases the prices of its products and consumer demand is elastic. (x) maintains its original price even if all of its compe
Whenever an organization’s wage structure reflects the keenness of individual staff to work, terms which are most applicable comprise: (i) Monopsonistic exploitation & wage discrimination. (ii) Monopolistic exploitation and the separation of possession and c
For such illustrated figure profit-maximizing pure competitor, there area aPed shows: (1) fixed cost (TFC). (2) average fixed cost (AFC). (3) the lowest possible economic loss. (4) maximum economic profits. (5) the rate of return on investment. <
HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. The illustrated figure shows such that HoloIMAGine: (1) makes profit equal to area dcP0P3 since this can price discriminate perfectly. (2) has market power as a pric
If an individual receives benefits from the government, associate to the benefits everyone else receives, which exceed the individual’s taxes like a proportion of total tax payments by all citizens, which individual can reasonably be viewed like
Marginal revenue: This refers to the addition prepared to the total revenue.
Behavior most compatible along with the law of equivalent marginal advantage occurs while: (w) shoppers exhaust their budgets upon nondurables and services. (x) every firm uses similar markup over cost to set prices. (y) identical twins work in evenly
In constant-cost, the purely competitive industries: (w) total cost is constant at every output. (x) marginal cost is constant at each output. (y) number of firms is constant at every output. (z) long-run supply price is uninfluenced by output. <
A price raise from $6 to $8 would effect in: (1) a decrease in total revenue. (2) an increase in total revenue. (3) no change in total revenue. (4) consumers buying more pizza. (5) pizza parlors selling more pizza.
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