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.
Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.
Oligopoly: This is a form of the market in which there are some big sellers of a commodity and a big number of buyers. There is a high degree of interdependence between the sellers regarding their price and output policy.
I have a problem in economics on Problem on blue collar workers. Please help me in the following question. The labor unions have tended to be very successful in organizing: (i) White collar workers. (ii) Blue collar workers. (iii) Professionals. (iv) Clerical workers.
Firms which discourage the workers from discussing their salaries or wages are most likely engaged in the policies of: (i) Respect for the worker’s privacy. (ii) Monopolistic exploitation. (iii) Perfect competition. (iv) Cooperation rather than competition. (v)
A main cause of oligopolies is: (w) mergers. (x) economies of scale. (y) barriers to entry. (z) all of the above. Please choose the right answer from above...I want your suggestion for the same.
When a purely competitive industry is into long run equilibrium, in that case for the typical firm: (a) P = FC = TC = MC = MR = AR = AC. (b) P = AR = MR = SRMC = SRAC = LRMC = LRAC. (c) pure economic profits reward especially effectiv
When technological advances boost market supply and total revenue both within an industry, in that case: (w) demand is relatively price elastic. (x) the industry is dominated by a monopoly. (y) patenting technological advances ensures
Can someone help me in finding out the precise answer from the given options. When consumers become willing and capable to purchase more of a good at each and every possible price, then the: (i) Demand curve shifts up-ward and to right. (ii) Quantity demanded increase
The philosophers in this demonstrated graph are enjoying economic rent equal to: (w) shaded area A. (x) shaded area B. (y) shaded area C. (z) the sum of the shaded areas. Q : Monopoly a monopolist has two plants a monopolist has two plants with two different cost functions.given output for one plantis given how do calculate output for the other plant?
a monopolist has two plants with two different cost functions.given output for one plantis given how do calculate output for the other plant?
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