Define price floor
Price floor: Price floor refers to the lowest amount price fixed by the government over the market determined price and hence the producers of the necessary items such as wheat, rice and so on might not experience losses.
When the price of a good increase slightly, then total revenue: (w) falls in the inelastic range of the demand curve. (x) rises over the elastic range of the demand curve. (y) stays close to zero in the unitary-elastic range of the de
For a family of four the break-even level of income under the negative income tax system demonstrated in this figure is: (1) $15,000 per year. (2) $30,000 per year. (3) $45,000 per year. (4) $60,000 per year. (5) $75,000 per year.
Firms are under greater pressure to rapidly adopt any new cost-saving technologies when an industry is: (i) closely regulated by government. (ii) controlled by professional managers instead of owners. (iii) dominated by a vast monopoly. (iv) highly co
A Lorenz curve which is identical to a 45 degree line by the origin indicates as: (w) perfect equality of income distribution. (x) complete inequality of income distribution. (y) unitarily elastic supplies of labor. (z) which poverty is prevalent.
Give the answer of following question. When the percentage change in price is greater than the resulting percentage change in quantity demanded: A) a decrease in price will increase total revenue. B) demand may be either elastic or inelastic. C) an increase in price
If $4 is Firm B's profit-maximizing price, its: A) ATC must be $4. B) MC must be $4. C) MR must be $4. D) MC must be zero. Help me to get
The income distribution tends to become more equal most quickly as countries become more: (1) socialistic. (2) capitalistic. (3) economically developed. (4) centrally planned. (5) agricultural. Please choose the ri
Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Q : Inflation premium Describe the term Describe the term Inflation premium and how it is the prospect of future inflation?
Describe the term Inflation premium and how it is the prospect of future inflation?
Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo
18,76,764
1922996 Asked
3,689
Active Tutors
1439564
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!