Define marginal cost
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
Assume nominal GDP in the year of 2002 was $100 billion and in the year of 2003 it was $260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by: A) 160 percent. B) 44 percent. C) 37 percent. D) 1
Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.
Choose the right answer of the following problem. "The government deregulated the electricity industry in California and a shortage of electricity occurred soon . It is clear that the deregulation caused the shortage." This statement requires careful analysis becau
What is the formula for primary deficit? Answer: Primary deficit = fiscal deficit – interest payment.
Table describe the average retail price of milk and the Consumer Price Index during 1980 to 1998. Determine percentage change in the real price (1980 dollars) from 1990 to 1995?
NOT between characteristics of a purely competitive industry would be as: (w) large numbers of potential buyers and sellers. (x) long-run freedom of entry and exit. (y) modern technology that dictates large firms. (z) buyers have no influence on price
Name the additional facility that the businessman acquires in the current deposit account of bank. Answer: The businessman acquires the facility of overdraft (that
The supply of good increases from the perspective of buyers while: (1) the government subsidizes production of the good. (2) price ceilings limit rates of return on investment. (3) queuing replaces allocation based upon high prices. (
What does leftward shift of PPC point out? Answer: It points out underutilization of resources.
Total cost for that monopolistic competitor in shown below figure equals area: (w) 0cbQ. (x) 0deQ + dcbe. (y) 0paQ cpab. (z) All of the above. Discover Q & A Leading Solution Library Avail More Than 1412892 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1950564 Asked 3,689 Active Tutors 1412892 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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