Define fixed cost
Fixed cost: Fixed costs refer to cost that remains constant as output modifies. For example: rent
The needs standard for income distribution would certainly involve: (w) difficulty in the measurement of productivity. (x) an enormous bureaucracy. (y) greater incentives for production than the contribution standard. (z) economic ef
Which of the given statements, if true, seems most probable to yield behavior which would conflict with the law of demand? (i) People cannot afford to drive as much whenever the price of gasoline goes above $3.00 per gallon. (ii) The greater heroin addicts encompass i
These supply and demand curves for sugar propose that the: (1) demand price exceeds the supply price at quantity Q2. (2) technology should advance to allow output to develop to Q4. (3) quantity demanded equals quantity supplied at P1.
The LEAST liquid of the given assets is: (1) a corporation's capital. (2) savings accounts. (3) cash. (4) U.S. savings bonds. (5) checking accounts. Hey friends please give your opinion for the problem of E
Suppose the U.S. wheat market is primarily in a stable equilibrium upon S0D0. Assume now that the government institutes a legal price floor at P3 per bushel of wheat. When the government will buy and store any resulting surplus
Why economic problems occur? Answer: This is due to unlimited or infinite wants and inadequate resources.
In this demonstrated figure kinked demand curve model, when a firm at point a raises or lowers its price and the rest of the firms in the industry do similar thing, in that case the relevant demand curve for the firm is: (w) demand curve D0
All profit-maximizing firms will hire much labor up to the point where: (i) Average physical product of the labor equals nominal wage. (ii) Last unit of the labor adds equally to net revenue and net cost. (iii) Marginal product of the labor is at its maximum value. (i
Immobility of the labor is significant economically as: (1) Most of the people like to move, however cannot. (2) People in high salary occupations won't be completely compensated for the costs and difficulties related with their occupations. (3) It we
The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship. Discover Q & A Leading Solution Library Avail More Than 1450270 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1943634 Asked 3,689 Active Tutors 1450270 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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