Define excess demand
Excess demand: If AD > AS at the full employment level. Then it is termed as Excess demand.
At market price P0, this purely competitive industry’s characteristic firms will earn: (i) positive economic profit. (ii) negative economic profit. (iii) zero economic profit. (iv) negative accounting profit. (v) important dividends f
A bond which pays a fixed annual income always is: (w) an eternity. (x) a perpetuity. (y) worthless. (z) infinitely valuable. Can anybody suggest me the proper explanation for given problem regarding Econom
Which of the given two statements involves positive economic analysis and which normative? How do the two type of analysis differ?a. Gasoline rationing (allocating to each year to each individual an annual maximum amount of gasoline whi
The proposition which taxing the rich to provide to the poor improves social welfare can’t be proved due to the impossibility of: (1) developing a political consensus about efficient redistribution programs. (2) the marginal utility of income di
Total revenue equals: (w) price times quantity. (x) marginal revenue times marginal cost. (y) profit per unit of output. (z) total cost minus profit. Please choose the right answer from above...I want your suggesti
The removal of exploitation of labor [that is, wage payments beneath the value to society of each and every individual worker’s productive contribution] is automatic when business decision makers: (v) Should set wages via collective bargaining agreements with th
Not between strategies historically employed by some unions however now illegal in the United States are: (i) Jurisdictional strikes centered on which the unions will stand for a firm’s staff. (ii) Agency shop contracts forcing the non-union staff to pay ‘
The form of discrimination which probably causes the smallest problems for income distribution is: (1) occupational discrimination. (2) human capital discrimination. (3) price discrimination. (4) personal discrimination. (5) employment discrimination.
This is untrue that a firm which is a pure monopoly: (1) commonly engages in extensive advertising to differentiate its products. (2) produces a level of output which is closer to socially optimal when this price discriminates. (3) is the sole produce
Total cost when such firm maximizes economic profits would be: (w) $72,000 per period. (x) $80,000 per period. (y) $96,000 per period. (z) $100,000 per period. Discover Q & A Leading Solution Library Avail More Than 1446493 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1935846 Asked 3,689 Active Tutors 1446493 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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