Define factor market
Factor market: It comprises of factors of production namely land, labor, capital and associations.
Economic profits produce competitive pressures which raise the industries: (w) price for output. (x) output and number of firms. (y) exit rate for established firms. (z) monopoly power in its largest firms. Hey fri
Harvey is currently a Junior Analyst at a financial firm. His annual salary is $30,000, and past experience leads him to believe that the real (inflation adjusted) value of his salary will remain at that level in the future. (Assume he is paid at the end o
Explain the term Oligopoly? Also explain its Characteristics?
When a monopolist’s marginal costs of production are positive and the demand curve, this faces is a negatively sloped straight line, as of the subsequent possibilities the absolute value of the price elasticity of demand at a pr
In which market type, there is a requirement for selling or advertising costs? Answer: Beneath monopolistic competition, there is a requirement of selling costs sin
The purely competitive firm in the output market which hires from a purely competitive labor market will employ the labor at the point where VMP = W as the firm: (p) Operates in society's best interest. (q) Wants to be quite fair to workers. (r) Is egalitarian institu
Can somebody help me to solve this query.. The federal income tax, wherein the rate rises as income increases, is taken as: (w) a progressive tax. (x) a regressive tax. (y) skewed towards the poor. (z) unfair to th
Monopolistic competitors generate levels of output which are: (w) more than socially optimal and equitable. (x) economically efficient. (y) where marginal social benefits exceed marginal social costs. (z) certain to generate economic profits.
State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s
Describe properties of the production possibilities curve.
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