economics
expectations of price hike for durable goods tend to:
Describe the problem of How to Produce? Answer: This refers to the choice of techniques of production of services and goods and whether labor intensive or capital i
Into a stable competitive economy without innovation, transaction, or uncertainty costs, all accounting profits would be: (w) pure economic profits. (x) payments required to secure owner-provided resources. (y) pure e
Economic cost can best be defined as: A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B) any contractual obligation to labor or material suppliers. C) compensations that must be received by resource
When the wholesale price P = $8 per bushel of peaches, it purely competitive peach orchard maximizes profit via producing ___ bushel of peaches at a total economic of profit or loss of $___. (i) zero; loss; -$4,000. (
George Stigler concluded which the kinked demand curve model is incorrect to the extent that this depends on: (w) marginal cost pricing. (x) pure competition. (y) interdependent decision making. (z) sticky prices.
State the relationship between MPC and multiplier? Answer: The value of multiplier differs directly with MPC. K=1/1 - MPC.
As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (i) MPPL = VMP. (ii) The price of output surpasses MFC. (iii) Monopolistic exploitation becomes essential to get profit. (iv) Imperfect competition can’t reach the eq
A firm is most certain to be capable to generate an economic profit when: (1) this is a monopoly. (2) entry within its industry in the short run is prevented through barriers to entry. (3) its marginal costs are less than the marginal costs of its com
1) Identify and explain the chief economic factors which determine the price of a good or service. Please include how demand and supply interact and elasticity, etc. Also give examples with graphs.
A monopolist maximizes total revenue through producing where is: (w) marginal revenue = marginal cost [MR = MC]. (x) marginal revenue = 0. (y) demand is elastic. (z) demand is inelastic. How can I solve my
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