Define Marginal rate of transformation
Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
Describe the causes of Increase in demand?Answer: 1) Increase in income of the consumer.2) Price of substitute goods increase.3)
Whenever your purchasing power drops as the price of a good you purchase increases, you make adjustments as of the: (1) Marginal utility effect. (2) Price level effect. (3) Income effect. (4) Consumer excess effect. Choose the righ
Some of the consumers strongly prefer Pepsi and some strongly prefer Coke. Thus there is no single market for colas. This statement is true or false ? Explain.This statement is false. Although some people have strong preferences for a specific
In addition to price, what are the other determinants that producers want to sell?
How the demand for one good alters while the price of an associated good is changed is measured through the: (w) relative ratios of the slopes of the respective demands and supplies. (x) price cross elasticity of demand. (y) ratios of the respective p
Can someone help me in determining the right answer from the given options. Through the onset of World War-II, the United States: (i) Expanded the military output just by increases taxes rigorously. (ii) Moved in the direction of its production possibilities frontier.
Money: Money is what money does. Or Money is something that is accepted as a medium of exchange and at similar time act as a store of value.
When the interest rate is 5 percent and a financial investment produces annual payments of $50,000, in that case the present value of this asset is as: (w) $1,000,000. (x) $5,000,000. (y) $500,000. (z) $10,000,000.
When physical capital becomes cheaper, in that case: (w) some workers may be displaced but worker productivity usually rises. (x) automation will make jobs for more workers. (y) workers will supply more labor services. (z) labor supply curves will move in backward ben
The resource probably to conform to the supply curve demonstrated in this figure would be: (1) housing. (2) capital. (3) labor. (4) land. (5) entrepreneurship. Discover Q & A Leading Solution Library Avail More Than 1455000 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1942775 Asked 3,689 Active Tutors 1455000 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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