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.
In equilibrium, the relative value of an additional unit of a good to a specified consumer is approximately proportional to the: (w) marginal revenue to the firm that sold the good. (x) marginal production cost of the good. (y) relative market price of the good. (z) a
I have a problem in economics on Problem of tax on a good. Please help me in the following question. The tax on a good tends to form: (1) A wedge between the price buyers pay and the price sellers collect. (2) Rises in supply from the perspectives of buyers. (3) More
State the meaning of Inflationary Gap: This refers to the amount by which the real aggregate demand exceeds the level of aggregate demand needed to establish full employment equilibrium.
Which of the given statements is not correct? (w) Wealth is less equally distributed than income. (x) U.S. tax and transfer programs tend to make income more evenly distributed. (y) Some disincentives for work plague even the most efficient of proposed welfare reforms
Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree? Answer: Unit
At the quantity where a demand of monopolist is unitarily elastic, so marginal revenue is: (1) positive. (2) negative. (3) one. (4) zero. (5) infinite. Hey friends please give your opinion for the problem of
Total fixed cost: 1. Fixed cost remains constant at each level of output ie it do not change with change in quantity.2. It can not be zero when output is zero.3. Its curve is parallel to X-aixs4.
The central bank performs as lender of last resort. Explain how? Answer: The central bank too acts as lender of last resort for other banks of the country. This mea
Under the negative income tax system demonstrated in this figure, a family of four along with earned income of $15,000 yearly would have a net [after-tax] income of: (i) $30,000 per year. (ii) $27,500 per year. (iii) $25,000 per year.
how do you determine equilibrium for nurses in a monopsony
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