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.
Can someone please help me in finding out the accurate answer from the following question. The law of supply defines that at: (1) Higher prices greater quantities will be supplied. (2) Lower prices greater quantities will be supplied. (3) Lower prices supply shifts to
Jane consumes only apples and chocolate. She is always willing to trade 1piece of chocolate for exactly 3 apples. Her income is $200. She can buy apples for $1 each and chocolate for $2 per piece.a. To Jane, apples and chocolate are (circle 1):
What is meant by the word price taker in the context of a firm? Answer: It means that firm does not contain any control over the price and it has to pursue that pri
When the resource market shown in this illustrated figure is initially within equilibrium along with demand curve D0: (w) owners of these resources currently receive no economic rents. (x) economic rent is specified by area
Line T0 depicts a tax system which is: (1) progressive. (2) recessive. (3) proportional. (4) biased. (5) regressive. Q : Define average cost Average cost : It Average cost: It is the cost per unit of output.
Average cost: It is the cost per unit of output.
I have a problem in economics on Normal market supply curves. Please help me in the following question. The actuality that normal market supply curves slope upward is most obviously due to: (i) The lower costs incurred as production rises. (ii) Overti
Broadly defined, technological advance: A) can occur in either the short run, long run, or very long run. B) comprises new and improved goods and services and new and improved ways of producing or distributing them. C) includes invention, but not innovation or diffusi
I have a problem in economics on Maximization of the Goals of Firm. Please help me in the following question. The firm’s goal of profit maximization is most distantly analogous to: (i) Revenue maximization by the Internal Revenue Agents. (ii) Ma
Describe the relation between average revenue and marginal revenue. whenever a firm can sell an extra unit or a good by lowering price.
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