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.
Purely competitive firms will experience economic profit, in a short-run equilibrium which is: (w) zero. (x) positive. (y) negative. (z) negative, zero, or positive are all possibilities. Hey friends please give yo
Maximizes total revenue by a monopolist where marginal revenue: (w) equals marginal cost. (x) is rising. (y) is zero. (z) is negative. Hey friends please give your opinion for the problem of
The income distribution tends to become more equal most quickly as countries become more: (1) socialistic. (2) capitalistic. (3) economically developed. (4) centrally planned. (5) agricultural. Please choose the ri
Setting a minimum price floor above the equilibrium price will: (w) raise the equilibrium price. (x) create excess demand at the minimum price. (y) create excess supply at the minimum price. (z) clear the market at the minimum price.<
Producers equilibrium signifies the stage beneath which with the help of given factors of production producer attain the level of production of which he is acquiring maximum gain.
I have a problem in economics on gaining more Consumer Surplus. Please help me in the following question. Sushi lovers would be most probable to gain more consumer surplus as an outcome of rises in the: (i) Price of the steamed rice. (ii) Supply of sushi. (iii) Income
I have a problem in economics on Problem on Industrial Unions. Please help me in the following question. The United Auto Workers (or UAW) is an illustration of a(n): (1) Mechanical union. (2) Company union. (3) Craft union. (4) Industrial union.
Can someone please help me in finding out the accurate answer from the following question. Industry-wide unionization would be most probable to significantly influence the rate of U.S. inflation in short run when it occurred in world-wide: (1) Market for the middle-ma
Can someone please help me in finding out the accurate answer from the following question? The firm probable to encompass significant monopsony power in its labor market would be: (v) Big cotton farm in the Texas hiring migrant workers. (w) Textile manufacturer in Hon
Seller’s markets frequently exist when: (i) There are extensive surpluses. (ii) Prices are increasing. (iii) The government enforces price floors. (iv) Inventories are much high. Can someone please help me in finding out the
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