economics
expectations of price hike for durable goods tend to:
When all costs are fixed in the short run, a monopolist maximizes profit through producing and selling the output level where: (1) demand is price elastic. (2) marginal revenue most greatly exceeds marginal cost. (3) demand is price inelastic. (4) mar
What will be the long-term effects of the Baby Boom?
Raised market demand for generic bricks would result within a(n) ___________ into the price of bricks as well as a(n) ___________ within this brickyard’s profit-maximizing output. (i) increase; decrease. (ii) increase; increase.
The simple circular flow model of a private economy describes how income and resources flow among: (1) Households and business associations. (2) Corporations and government agencies. (3) Sole corporations and proprietorship (4) Busine
Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry
When a change in the supply of a good causes a percentage change within price which exceeds in absolute value the resulting percentage change within quantity demanded, then demand is relatively: (1) price elastic. (2) inferior. (3) no
The counter-argument to the idea which unions cause inflation is that the union negotiated wage hikes: (i) Are not excessive except W > average revenue products. (ii) Set the pattern for non-union wage negotiations. (iii) Tend to outcome in lower salaries in non-un
The market supply schedule for a resource or good shows the: (i) Points in time if production is scheduled for completion. (ii) Amounts sellers wish could be given at prices exceeding the costs. (iii) Maximum quantities which will be offered for sale at particular pri
Can someone help me in finding out the right answer from the given options. All the profit maximizing organizations employ labor up to the point where: (w) MR MC is maximized. (x) VMP = MFC. (y) VMP = MRP. (z) MRP = MFC.
The firm is vertically integrated when it: (1) Consists of an internationally recognized brand name. (2) Promotes career staffs to executive positions rather than hiring the experienced outsiders. (3) Merges with another firm which sells unrelated products. (4) Monopo
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