Elastic and Inelastic demand
An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation among price and expenditure.
An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic?
Answer: Inelastic since there is direct relation among price and expenditure.
Within a graph along with output on the horizontal axis and whole revenue on the vertical axis, determine the shape of the total revenue curve for a perfectly competitive seller: w) U-shaped. x) inverted U-shaped. y) a horizontal line. z) a ray from the origin.
When 200,000 gallons of water are applied per acre, 4 tons are harvested by each acre of linguini trees yearly, but cutting back to 160,000 gallons causes the crop per acre to reduce to 2 tons yearly. Then water elasticity of linguini production is as
The tobacco industry within the United States is a good illustration of: (1) monopoly. (2) pure competition. (3) oligopoly. (4) corporate responsibility. (5) duopoly. I need a good answer on the topic of Economics
A nondiscriminating unregulated monopolist maximizes profit by: (w) charging the highest price the market will bear. (x) often changing designs and building in planned obsolescence. (y) setting marginal costs equal to marginal revenue [MC = MR]. (z) s
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 : Price floor for Whopper Slushees The The government price floor for Whopper Slushees at P3 would result a: (i) shortage of Q1 – Q3. (ii) Excess of Q3 - Q1. (iii) Supply price of P1. (iv) Quantity demanded of Q2. (v) Demand price of P2. Q : Differences in site values An acre of An acre of Manhattan is worth additional than an acre of prime Iowa farm land due to differences in: (1) perpetuities. (2) time preferences. (3) site values. (4) interest rates. (5) taxes. Can someone explain/help me with best solu
The government price floor for Whopper Slushees at P3 would result a: (i) shortage of Q1 – Q3. (ii) Excess of Q3 - Q1. (iii) Supply price of P1. (iv) Quantity demanded of Q2. (v) Demand price of P2. Q : Differences in site values An acre of An acre of Manhattan is worth additional than an acre of prime Iowa farm land due to differences in: (1) perpetuities. (2) time preferences. (3) site values. (4) interest rates. (5) taxes. Can someone explain/help me with best solu
An acre of Manhattan is worth additional than an acre of prime Iowa farm land due to differences in: (1) perpetuities. (2) time preferences. (3) site values. (4) interest rates. (5) taxes. Can someone explain/help me with best solu
The Blacklisting was once common however now illegal in the labor market practice of: (i) Boycotting the products of firms whose workers are on strike. (ii) Forcing the workers to sign agreements not to join the unions. (iii) Paying the union officers to systematize u
I have a problem in economics on Social purposes served by firms. Please help me in the following question. The broad social purposes served by the firms do not comprise: (1) Coordination of team production. (2) Maximization of the stockholder gains. (3) Reduction of
Different from Firm D, Firms A and B as well as C are all: (w) profitable firms that enjoys significant market power. (x) purely-competitive price-takers and quantity-adjusters. (y) pure monopolies. (z) perfectly inelastic suppliers. Discover Q & A Leading Solution Library Avail More Than 1413671 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928485 Asked 3,689 Active Tutors 1413671 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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