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.
At an interest rate of 5 percent per year the present value of a bond paying $100 yearly forever is: (a) infinite. (b) $500. (c) $909.10. (d) $2000. I need a good answer on the topic of Economics problems. Please give me your sugge
Tell me the answer of this question. Critics of the North American Free Trade Agreement (NAFTA) falsely feared that it would: A) increase the flow of illegal Mexican immigrants to the United States. B) cause the European Union and Japan to raise trade barriers against
explaination of balance of payment identity
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
When the market price for soccer balls is above the intersection of supply and demand curves, then: (1) Shortages of soccer balls will be extensive. (2) Pressure will exist to raise the price of soccer balls. (3) Salaries paid people who make soccer balls are probable
When wage discrimination is not likely for the first 40 workers this profit-maximizing firm hires, however it can wage discriminate absolutely whenever hiring all the subsequent workers, it hires a net of: (1) 40 workers at average wage of $700 per week per worker. (2
Whenever two parties encompass unequal levels of knowledge regarding issues in the bargaining situation: (i) Potential abuses of the asymmetric information exist. (ii) The payoff matrix is invariably asymmetric. (iii) The more knowledgeable negotiator will profit from
The chronological time needed for the technology to respond to modifications in profit opportunities (that is, the technological long run, also termed as super long run or temporal long run) is: (1) Longer than analytical long run for firm. (2) Shorter than market per
Describe the role of given in correcting deflationary gap in an economy. A) Govt. ExpenditureB) Legal Reserve Ratio
Evaluate which one is not correct? A typical production possibilities curve: A) indicates how much of two products a society can produce. B) reveals how much each additional unit of one product will cost in terms of the other product. C) specifies how much of each pro
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