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.
In spite of of the amount sold, price equals for a price-taker firm on both average: (i) revenue and marginal revenue. (ii) variable cost and marginal cost. (iii) fixed cost and average variable cost. (iv) total cost and marginal revenue.
Babble-On maintains world-wide patents for software which translates any of three-hundred-thirteen spoken languages within text, along with automatic audio and text translations within any of the other three-hundred-thirteen languages. Babble-On's profit-maxim
One of my friends can't find the answer of this question. Give answer of following economic based question. Tell me about strongly separable utility function?
What industry is perfectly elastic that is not agriculture?
When governments compelled pharmaceutical producers to manufacture and sell at least Q3 penicillin, in that case the: (1) purely-competitive firms which produced penicillin would experience persistent economic profits. (2) resulting inadequate antibiotic tr
Define aggregate supply: Aggregate supply is the money value of net or total supply of services and goods available for purchase by an economy throughout a given period.
Critics of contestability theory argue which: (i) easy entry and exit isn't enough to make sure competitive prices. (ii) even though the firms charged a competitive price for their goods, that they would not have the incentive to make the competitive
The market’s boundaries are stated by: (i) Legislation. (ii) The number of sellers and buyers in the market. (iii) The ease of trading among sellers and buyers. (iv) Geographical borders. Choose the right ans
Factors establishing elasticity of supply: The factors below will persuade the elasticity of supply: 1. Modifications in cost of production. 2. Behavior pattern of producers. 3. Accessibility of faci
When an increase in demand arises at similar time as a decrease in supply, in that case equilibrium price: (w) falls, and equilibrium quantity is unsure. (x) increases, and equilibrium quantity is uncertain. (y) remai
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