demand of various vegetable
why demand change of onion in during one week due to change in it's price?
Severe drought outcomes in a drastic fall in the output of wheat. Examine how will it influence the market price of wheat? Answer: As an outcome of severe drought,
I have a problem in economics on Labor union monopoly. Please help me in the following question. As compared to pure competition, beneath a pure labor union monopoly, the wage will tend to: (1) Higher and employment will also be higher. (2) Lower and
The fundamental economic question for that answers are most likely to be different greatly across the populace and be most heavily based upon value judgments is: (1) what goods will society produce? (2) how will resources be used to yield the goods so
Consequences of the price floor: The consequences of price floor might be: (A) Surplus of the commodity (B) The government might resort to buffer stocks to absorb the excess in the market at the support price and sells the products to consumers beneat
distinguish between full employment and under employment
The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an
The Reagan Administration introduced new agricultural program named as the Payment-in-Kind Program, in the year of 1983. In order to distinguish how the program worked, let's assume the wheat market. Now assume the government desire to lower the supply of whe
Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
The law of demand is graphically demonstrated by: (1) Movement all along the supply curve. (2) The downward-sloping demand curve. (3) The rightward shift of demand curve. (4) Shifting of production possibilities. C
Total revenue grows while the price of a good is cut when the price elasticity of: (w) demand exceeds the price elasticity of supply. (x) substitute goods is less than one. (y) supply is into a relatively elastic range. (z) demand is
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