Define Inferior good
Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.
I have a problem in economics on Substitution problem on consumption. Please help me in the following question. Teddy forever eats peanut butter and jelly sandwiches for lunch as he should live on $20 dollars a week. Jelly jumped in price and, to plea
The union strategy made illegal through the Taft-Hartley Act of 1948 was: (1) Jurisdictional strikes centered on which the unions would symbolize a firm’s staff. (2) Contracts in which the firms agreed to preferentially encourage the union members. (3) ‘Ri
Assets turn into less desirable to prospective financial investors while: (w) they become more liquid. (x) interest rates increase. (y) their prices go up. (z) default risks decrease. How can I solve my Eco
At point c, in illustrated figure the supply curve into this graph is: (w) perfectly price elastic. (x) relatively price elastic. (y) unitarily price elastic. (z) relatively inelastic. Q : Increase output to increase profit When When the last unit produced and sold adds $100 to revenue of a firm and $75 to its costs, this will: (a) increase output to increase profit. (b) reduce output to increase profit. (c) maintain similar level of output to maximize profit. (d) shut down. Q : Average cost per unit of production When Prohibition Corporation maximizes profit within its production of St. Valentine’s Day software, there average cost per unit of it produced will be roughly: (i) $4 per copy. (ii) $10 per copy. (iii) $18 per copy. (iv) $24 per copy. (v) $32 per copy.
When the last unit produced and sold adds $100 to revenue of a firm and $75 to its costs, this will: (a) increase output to increase profit. (b) reduce output to increase profit. (c) maintain similar level of output to maximize profit. (d) shut down. Q : Average cost per unit of production When Prohibition Corporation maximizes profit within its production of St. Valentine’s Day software, there average cost per unit of it produced will be roughly: (i) $4 per copy. (ii) $10 per copy. (iii) $18 per copy. (iv) $24 per copy. (v) $32 per copy.
When Prohibition Corporation maximizes profit within its production of St. Valentine’s Day software, there average cost per unit of it produced will be roughly: (i) $4 per copy. (ii) $10 per copy. (iii) $18 per copy. (iv) $24 per copy. (v) $32 per copy.
The rise in the price of Pepsi will effect a: (1) Shift of the supply curve of Coke to left. (2) Shift of the supply curve of Pepsi to right. (3) Movement downwards all along the supply curve of Coke. (4) Movement up and to right all along the supply curve of Pepsi.
Personal discrimination: (1) may impede economic discrimination. (2) fosters wage, employment, occupational, and human capital discrimination. (3) causes housing prices to exceed levels affordable by the poor. (4) is the only cause of occupational dis
I have a problem in economics on recognizing market demand for a good. Please help me in the following question. To determine the market demand for a good, add up the: (1) Quantities supplied at each and every price. (2) Quantities demanded at each and every price. (3
A monopoly firm must shut down in the short run when: (w) P < minimum [average total costs [ATC]]. (x) P > minimum [average total costs [ATC]]. (y) this cannot cover all variable costs. (z) P does not equal marginal costs [MC]. Discover Q & A Leading Solution Library Avail More Than 1428409 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1956354 Asked 3,689 Active Tutors 1428409 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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