Define multiplier
Multiplier: It is the number by which change in investment should be multiple in order to find out the resultant change in income and output.
Suppose that the price of peanut packets increases by 5 %, the quantity supplied of peanut increases by 8 %. Then what is the elasticity of supply? Answer: Es = Per
Demands for alcoholic and tobacco beverages tend to be relatively price inelastic and income inelastic. There per unit “sin taxes” upon these products will share out the tax burden: (i) proportionally among high-income and
Within the long run a monopolistically competitive firm will not be characterized through: (w) zero economic profit. (x) price greater than marginal revenue. (y) production at lowest possible average total cost. (z) price greater than marginal cost.
When the firms are earning abnormal gains, how will the number of firms in industry change? Answer: The number of firms in industry will tend to rise.
In the past 4 decades, the still increasing globalization of trade has caused the United State automobile market to evolve by: (i) highly concentrated oligopoly towards monopolistic competition. (ii) pure monopoly to pure competition. (iii) a cartel t
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
Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 u
Can someone please help me in finding out the accurate answer from the following question. The monopolist in product market will hire a labor to a point where the: (i) Marginal revenue product of the labor equivalent its marginal factor cost. (ii) The value of margina
An opportunity cost to the user, although not to society as an entire, which would be the: (w) accounting profits realized by a firm of CPAs. (x) interest paid by a borrower for a bank loan. (y) rent paid by a sharecropper to a plantation owner. (z) m
A) Using appropriate tables and diagrams explain how price and quantity is determined in a free market economy. B) Briefly explain using the diagrams in 4.1 the followings two scenarios C) When
18,76,764
1949652 Asked
3,689
Active Tutors
1422322
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!