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.
When supplies of some resources are upwardly sloping to an industry, in that case increasing the industry’s output results within: (w) higher output due to increased profits from falling input prices. (x) reductions of output because of increase
Explain the methodological procedure called comparative statics. What does this procedure imply regarding the nature of the consumer demand curve?
Predictions which higher gasoline prices will increase total spending on gas imply such as the demand over the relevant price range that is: (w) unlimited. (x) relatively price elastic. (y) unitarily price elastic. (z) relatively price inelastic.
When the last unit produced and sold adds $100 to revenue of a firm and $75 to its costs, this will: (a) increase output to increase profit. (b) reduce output to increase profit. (c) maintain similar level of output to maximize profit. (d) shut down. Q : Substitutes and compliments pizza and pizza and sausage substitute or compliment wheat and rye substitute or compliment
pizza and sausage substitute or compliment wheat and rye substitute or compliment
For Cournot’s Spring Water the demand is relatively price inelastic at: (i) point a. (ii) point b. (iii) point c (iv) point d. (v) point e. Q : Monopoly competition and perfect Write down the differentiations between monopoly competition and perfect competition?
Write down the differentiations between monopoly competition and perfect competition?
Unlike firms within pure competition, several unregulated monopolistic firms can potentially: (w) reap long run economic profits when entry barriers prevent competition. (x) generate only normal profits in the long run. (y) sustain consistent economic
An industry dominated by small huge firms shielded through barriers to entry is: (1) a monopoly. (2) a vertically integrated industry. (3) an oligopolistic industry. (4) an aggregated industry. (5) a cartel. I need
If this firm maximizes its profit as in given graph, then its total costs equal: (w) $75,000 per month. (x) $90,000 per month. (y) $15,000 per month. (z) $105,000 per month. Discover Q & A Leading Solution Library Avail More Than 1443044 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928905 Asked 3,689 Active Tutors 1443044 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1928905 Asked
3,689
Active Tutors
1443044
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!