Define fixed cost
Fixed cost: Fixed costs refer to cost that remains constant as output modifies. For example: rent
Investments require: (w) current outlays, and yield current returns. (x) current outlays, and yield future returns. (y) future outlays, and yield current returns. (z) future outlays, and yield future returns. Pleas
Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.
The law of demand declares that the negative relationship exists among: (1) The purchases of poorer goods and the level of national income. (2) Unlimited demands and restricted resources. (3) A good’s price and the quantity of good people will b
New agricultural program named as the Payment-in-Kind Program is introduced by the Reagan Administration, in the year of 1983. In order to distinguish how the program performed, consider the wheat market. Had the government not given the whea
I have a problem in economics on Minimum Wage Laws-unskilled workers. Please help me in the following question. The Minimum wage legislation is unlikely to help: (i) Skilled workers who compete by unskilled workers. (ii) Unskilled workers who don&rsqu
When the price of a financial asset is of $2,000 and the interest rate is 10 percent, in that case investment is not reasonable for: (1) a perpetuity paying $200 annually. (2) an income stream paying $1000, $800, and $600, respectivel
The typical purely competitive firm: (w) is both a price maker and a quantity adjuster. (x) operates within the inelastic range of the demand curve. (y) should decide how much to produce at prices set through the market. (z) tries to maximize total sa
Defenders of the efficiency of monopolistic competition are mainly persuasive when they insist which: (w) consumers benefit greatly from product differentiation. (x) any inefficiency is far less harmful than that of pure monopoly. (y) pure competition
Surplus budget: When receipts of government are greater than its receipts, it is termed as surplus budget.
Of the given, the good for that demand is probable to be least price elastic is: (i) electricity used to light downtown streets. (ii) airline tickets in late December. (iii) Bic pens. (iv) chocolate milk. (v) Merit cigarettes. Discover Q & A Leading Solution Library Avail More Than 1453164 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1946345 Asked 3,689 Active Tutors 1453164 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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