Define marginal revenue
Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
The firm has $70,000 in implicit costs, and the economic profit of $40,000. This firm’s: (i) Explicit cost equivalent $30,000. (ii) Accounting profits equivalent $110,000. (iii) Normal gain equivalents $40,000. (iv) Explicit costs equivalent $110,000.
Purely competitive industries are not described by: (i) numerous potential buyers. (ii) product homogeneity. (iii) numerous potential sellers. (iv) freedom to enter or leave the market within the short run. (v) power to adjust quantities although no p
Utilitarianism states that the best society is one which gives the: (1) Essential goods to meet people’s requirements. (2) Biggest happiness for the greatest number of people. (3) Precise measurement of disutility and utility. (4) Highest guaran
Can someone please help me in finding out the accurate answer from the following question. The downward slope of the consumer demand curves for normal goods is partly described by: (i) Income effects. (ii) Diminishing marginal utility. (iii) Substitution effects. (iv)
How do you explain the term GNI per capita?
When a firm's inventories are comparatively high, then the bargaining power of union is: (i) Huge, since the firm cannot afford interruptions of the production. (ii) Great, since the firm's gains are low. (iii) Low, since the firm can sell its invento
Sets of complementary goods comprise: (w) pipes, chewing tobacco, and snuff. (x) gasoline, diesel, and gasohol. (y) swimsuits, diving boards, and swimming pools. (z) Jacuzzis, saunas, and steam baths. Hello guys I
What will be the consequence of a rise or fall in the bank rate on money supply? Answer: It will reduce or raise the money supply.
Producers equilibrium signifies the stage beneath which with the help of given factors of production producer attain the level of production of which he is acquiring maximum gain.
When the interest rate is 5% and a financial investment produces annual payments of price $50,000, in that case the present value of this asset is: (w) $1,000,000. (x) $5,000,000. (y) $500,000. (z) $10,000,000. Discover Q & A Leading Solution Library Avail More Than 1427122 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1949415 Asked 3,689 Active Tutors 1427122 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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