Determining type of good
An increase in the income of Consumer X leads to fall in demand for that good by that consumer. Name the good X termed? Answer: Inferior good
An increase in the income of Consumer X leads to fall in demand for that good by that consumer. Name the good X termed?
Answer: Inferior good
When the firm produced at output level q2, this produced where: (w) MR = MC. (x) MR > MC. (y) MR < MC. (z) P < MC. Q : Ratio to determine income elasticity of The income elasticity of demand [at a specified price] is computed by the ratio of the relative: (a) change in quantity demanded over a given proportional change in income. (b) reciprocal of the price elasticity of supply. (c) slope of the demand curv
The income elasticity of demand [at a specified price] is computed by the ratio of the relative: (a) change in quantity demanded over a given proportional change in income. (b) reciprocal of the price elasticity of supply. (c) slope of the demand curv
The Department of the Census explains low relative income as experienced while families: (w) lack sufficient income to buy the fundamental food clothing and shelter required for survival. (x) would like to improve the
Market demand curve for the Hormel’s canned Spam [that is, a processed pork product which is an inferior good for most of the people], would shift rightward as the effect of major increases in: (i) Publicity regarding high correlations among hea
When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.
Let assume that an auto manufacturer which can produce 10 cars at an average cost of $8000 per car. When the manufacturer enlarges output to 100 cars, then the average cost of production falls to $5000 per car. This firm is experiencing the: (1) Raised demand. (2) Eco
Kinds of output subsequently used to generate other goods are termed as: (w) land. (x) labor. (y) capital. (z) primary resources. Hey friends please give your opinion for the problem of Eco
If business taxes are decreased and the real interest rate increases: A) consumption and saving will necessarily increase. B) the level of investment spending might either increase or decrease. C) the level of investment spending will necessarily increase. D) the leve
When the market price of a gallon of gas is similar as the cost of 4 pineapples in dollars, the relative price of the pineapple is: (i) 1/4 of a gallon of gas. (ii) 25 cents. (iii) 4 gallons of gas. (iv) $4.00. Can someone please h
Line T1 depicts in given graph as in below a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Discover Q & A Leading Solution Library Avail More Than 1461687 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1924173 Asked 3,689 Active Tutors 1461687 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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