--%>
Assignment Help - homework help

Economically non–viable industry

What happened when demand and supply curve do not intersect with each other?

Answer: The outcome is: Economically non–viable industry.

   Related Questions in Microeconomics

  • Q : Firms supply curve in short run

    Describe firm’s supply curve in short run, operating in perfect competition? Answer: It is a MC curve of the firm beginning from a point where MC = AVC (that is, minimum).

    		•
  • Q : Surviving for maximum profits in

    Supposing that the competitive firms should seek the maximum profits to survive signifies that: (1) Firm do not make trial-and-error decisions. (2) Each and every firm always seeks the maximum gain and nothing else. (3) Competition is very profitable.

    		•
  • Q : Movement of Supply Curve towards up and

    The rise in the price of Pepsi will effect a: (1) Shift of the supply curve of Coke to left. (2) Shift of the supply curve of Pepsi to right. (3) Movement downwards all along the supply curve of Coke. (4) Movement up and to right all along the supply curve of Pepsi.

    		•
  • Q : Price mechanism Write down the benefits

    Write down the benefits of leaving the allocation of countries resources to price mechanism?

    		•
  • Q : Higher income elastic demand for

    For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems

    		•
  • Q : Decisions of oligopoly firm on price

    Within an oligopoly each firm: (w) ignores the pricing strategies of rival firms. (x) faces a horizontal demand curve. (y) should make decisions on price and output based on expected or actual actions of its rival. (z) has little control over the mark

    		•
  • Q : Ratio of perfect equality and Lorenz

    The ratio of the area between the perfect equality reference line and the Lorenz curve is the: (w) Gini index. (x) relative income (y) poverty line (z) marginal productivity standard.

    Q : Conscious interdependence of oligopoly

    Firms that should contemplate the potential reactions of rival firms while adjusting their pricing and output to maximize long run profit are operating within an industry which is: (1) perfectly competitive. (2) purely competitive. (3) monopolisticall

    		•
  • Q : Total revenue and price variation in

    While total revenue decreases because of an increase within price the firm is operating into the_________ portion of consumers' demand curve. (1) relatively elastic. (2) relatively inelastic. (3) unitary elastic. (4) perfectly inelast

    		•
  • Q : High relative income define by Census

    The Department of the Census defines high relative income as experienced while families: (w) earn more than $60,000 annually per worker in the family. (x) have income which is twice the median incomes of other American families. (y) e

    		•