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.
When a firm experiences economies of scale which span the bulk of demand in the market, in that case the market which this operates within will tend to: (i) evolve into a monopoly. (ii) become inefficient before this gets extremely large. (iii) seldom
In the long run within a market system, all intermediaries earn income only when they help sellers and buyers: (w) raise surpluses. (x) by innovating new products. (y) reduce transaction costs. (z) ga
Briefly describe the term economics?
Properties of indifference curves: The 3 properties of indifference curves are as shown below:A) Slopes downward from left to right: To consume more of onegood the consumer should give up li
Please provide me answer of this question. What will be the implications for consumer's preferences and her indifference curves if the axiom of transitivity does not hold?
The percentage change within quantity demanded along this demonstrated linear demand curve is: (w) greater than the percentage change within price in range b. (x) smaller than the percentage change within price in range a. (y) precise
Most of the mass advertising is planned to: (1) Give accurate information on product and price quality. (2) Boost output to conform to the consumer preferences. (3) Alter the consumer preferences. (4) Provide free TV entertainment and remain newspaper
A nondiscriminating monopolist's equilibrium output is inconsistent along with: (w) marginal revenue equals marginal cost [MR = MC]. (x) price equal to marginal costs [P = MC]. (y) price exceeding average variable costs [P > AVC]. (z) price exceedi
The purely competitive firm in an output market which hires from a purely competitive labor market will use labor at the point where VMP = W as the firm: (i) Operates in the society's best interest. (ii) Wants to be pretty fair to workers. (iii) Is eg
Describe how changes in the prices of other products influence the supply of a specific product.
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