Define production possibility curve or PPC
Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.
What happened when demand and supply curve do not intersect with each other? Answer: The outcome is: Economically non–viable industry.
What do you mean by globalization and its effects on the Indian economy?
When the market interest rate exceeds the rate of return you compute on an asset: (i) competition for profit must make its price rise quickly. (ii) its present value is less than its price. (iii) the market is in long term equilibrium
The absolute value of price elasticity of demand is generally greater when there: (w) are fewer uses for the good. (x) is more time permitted for buyers to adjust. (y) are fewer substitutes for the good. (z) is a lower elasticity of s
I have a problem in economics on Hicks Model of Collective Bargaining. Please help me in the following question. The period of union strikes and the equilibrium wage rate at conclusion of a strike are the focus of: (i) Taft-Hartley Act of 1948. (ii) B
When the U.S. wheat market as in below demonstrated graph is primarily within equilibrium on S0D0, in that case the yearly total revenues (price × quantity) of wheat farmers will equivalent: (1) 0P4gQ4
The law of demand defines that there is a negative relationship among: (1) A good’s price and quantity demanded. (2) Limitless demands and inadequate resources. (3) The quantities demanded and supplied. (4) People’s income and demands for
A monopoly firm's profits: (w) equal only normal profits in long-run equilibrium. (x) may be whatever level the firm wishes. (y) are maximized where MC = MR. (z) tend to be lower than that of pure competitors. Hell
Select the right answer of the question. A competitive market will: A) achieve an equilibrium price. B) produce shortages. C) produce surpluses. D) create disorder.
When Rose Garden Wholesalers has a typical type cost structure of rose farms within this purely competitive industry, into the long run new competitors would most likely enter the market providing the wholesale price
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