Define revenue
Revenue: This refers to total money income from the sale of output.
I have a problem in economics on Competitive equilibrium in competitive labor markets. Please help me in the following question. The Competitive equilibrium in competitive labor markets need: (1) P = MR = AVC. (2) VMP - P is maximized. (3) MPP = P. (4
When Presidio, Hybrid Roses and Texas boomed learned which its rent and utilities had soared upward by $9 per hour hence a new five-year lease would now cost $60 per hour, therefore this monopolist will: (w) continue to realize positive economic profi
What is the condition when there is a deficit in balance of trade? Answer: When import > export
When households shift by an emphasis on cash into their portfolios and more stocks and bonds since they have become more willing to hold less liquid assets, in that case the: (w) interest rate rises. (x) present value of future income falls. (y) inter
When it is illegal to necessitate union membership as a condition of employment for firm, then the firm: (1) Needs all the employees to sign the yellow dog contracts. (2) Can’t sign an agency shop agreement with the union. (3) Can need settlement before workers
The absolute intensity of one consumer’s preferences and tastes as compared to the absolute intensity of the other consumer’s tastes and preferences is as: (1) Dependent on the supplies of specific products. (2) Individually recognized in
The cross-elasticity of demand among any pair of goods is positive when the goods are: (i) luxuries. (ii) necessities. (iii) complements. (iv) substitutes. Hey friends please give your opinion for the problem of
The Adam Smith’s theory of wage differentials is least reliable with a case in which a: (1) Chef in the five-star restaurant earns a higher wage than cook in the fast food restaurant. (2) Security guard for U.S. firm in Baghdad is paid more than the security gua
When a monopolist maximizes the profit in a product market, it will: (i) Hire labor till the marginal revenue product equivalents marginal resource cost. (ii) Hire labor till the value of marginal product equivalents marginal resource cost. (iii) Pay a wage equivalent
Can someone help me in finding out the right answer from the given options. Raised ‘love boat’ ticket sales in response to a sequence of stunning travel commercials point out a raise in the: (i) Quantity of romantic vacations demanded. (ii) Demand for the
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