Define production function
Production function: This refers to the functional relationship among inputs and outputs.
When increased demand causes the price of main beluga caviar to climb from $2750 to $3250 per pound and consequently world production rises from 24 to 40 tons yearly, its caviar has a price elasticity of supply approx
In long-run equilibrium for a purely competitive firm: (w) MC = P = MR = min.(LRAC). (x) MC = TR = PQ = AVC. (y) LRAC = PQ = TVC + TFC = MR. (z) P = Q = wL + rK = Y. Can anybody suggest me the proper explanation fo
The view about all people is entitled to income sufficient to comfortably sustain their physical survival is termed as the: (1) survival standard. (2) contribution standard. (3) needs standard. (4) standard deduction. (5) equality standard.
A Lorenz curve can be utilized to demonstrate the: (w) functional distribution of income. (x) income necessary to maintain specified living standards. (y) demand for low wage labor. (z) cumulative percentage of income received by cumulative percentage
Government tax revenue would raise most from a specified tax when the good taxed contain a relatively: (w) price elastic demand. (x) price inelastic demand. (y) unitary price elastic demand. (z) flatter demand curve. Q : Demand Price equivalent to market price Can someone please help me in finding out the accurate answer from the following question. People will purchase goods when their demand prices equivalent or surpass: (1) Transaction costs. (2) Market prices. (3) Subjective prices. (4) Price indexes.
Can someone please help me in finding out the accurate answer from the following question. People will purchase goods when their demand prices equivalent or surpass: (1) Transaction costs. (2) Market prices. (3) Subjective prices. (4) Price indexes.
What does leftward shift of PPC point out? Answer: It points out underutilization of resources.
Most of the economic models suppose that the financial goal of a corporation is the maximization of the value of: (1) Firm’s net revenue. (2) Accounting gains to the firm. (3) Firm to its shareholders. (4) Progress of the sales revenues. (5) Monetary advantages
At the whole prices where quantity demanded is zero, there the: (w) slope of the demand curve is zero. (x) price elasticity of demand is zero. (y) supply curve has infinite slope. (z) price elasticity of demand is imperfectly defined. Q : Individual demand and market demand Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices. Discover Q & A Leading Solution Library Avail More Than 1415841 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1939743 Asked 3,689 Active Tutors 1415841 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices. Discover Q & A Leading Solution Library Avail More Than 1415841 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1939743 Asked 3,689 Active Tutors 1415841 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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