Define tax
Tax: It is a compulsory payment prepared by household and firm to government.
When price falls and quantity rises along a negatively-sloped linear demand curve: (1) total revenues fall till elasticity equals zero, then this rises. (2) demand is decreasingly price elastic. (3) there is a contrad
The problem of asymmetric information is that: a) neither health care buyers nor providers are well-informed. b) health care providers are well-informed, but buyers are not. c) the outcomes of many complex medical procedures cannot be predicted. d) insurance companies are well-informed
Why does a marginal benefit curve slope downwards?
Effects of price ceiling: The consequences of price ceiling might be: A) Scarcity of the commodity B) The government might oblige rationing that is, supply of goods in limited q
Monopolies tend to shut down in the short run when: (1) price is less than the minimum of average total costs [ATC]. (2) price cannot cover all overhead costs. (3) potential revenue cannot cover total variable costs. (4) total costs exceed total reven
Can someone help me in finding out the precise answer from the given options that when a fixed level of national income becomes appreciably less evenly distributed as the numbers of relatively poor people and relatively prosperous people both raise dr
Let consider the law of demand. The idea that the higher price for a normal good will outcome in less of good being purchased never based logically on the: (1) Income effect, by which the higher price decreases the purchasing power of the income. (2) Demand for good f
The positively sloped supply curves exhibit relationships which: (1) Follow from law of demand. (2) Are positive between quantity supplied and price. (3) Are negative between price and the quantity sold. (4) Exist for services however not goods.
Most of the microeconomic models hinge on suppositions that all choices by each and every individual imitate attempts to: (1) Conform to social mores and cultural norms. (2) Propagate the individual’s gene pool into the future generations. (3) B
Total cost can be estimated as area: (i) 0bcq1. (ii) 0adq2. (iii) 0Peq2. (iv) aPed. (v) Cannot be measured in illustrated figure. Discover Q & A Leading Solution Library Avail More Than 1453446 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1929899 Asked 3,689 Active Tutors 1453446 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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