Elastic industry
What industry is perfectly elastic that is not agriculture?
According to the John Kenneth Galbraith, the modern corporate planning: (i) Aims at decreasing risks to the managers of main firms. (ii) Stresses the maximization of gains. (iii) Is much concerned with the social goals. (iv) Maximizes the social welfare.
Breaking a natural monopoly within a number of competing firms would probably: (w) increase output and lower price to consumers. (x) reduce output and raise price to consumers. (y) reduce efficiency but lower price. (z) have no effect on output or pri
Within a competitive industry into the long run: (w) economic profits are common. (x) existing firms wither in growing industries. (y) economic profits induce new firms to enter an industry. (z) accounting profits will be zero for all firms.
For any profit-maximizing monopolist not capable to price discriminate, production arises at an output level where is: (w) price exceeds marginal costs [P > MC]. (x) marginal revenue exceeds marginal costs [MR >
I have a problem in economics on Production Costs of goods problem. Please help me in the following question. In order to provide more goods on the market, firms increase prices to cover: (1) Rising opportunity costs in the production. (2) Technologic
When after hiring the very last worker, the organization’s profit is similar as it was prior to the last worker was hired, the firm must: (1) Hire more workers to raise the profit. (2) Layoff several workers to raise gain. (3) Not hire any more workers. (4) Shut
The law of diminishing marginal utility might be evidenced by the person: (i) Smoking more however enjoying it less. (ii) Purchasing a new car subsequent to getting an increase. (iii) Distributing excess food to starving children. (iv) Who studies muc
When a monopolist maximizes profit with producing where average total cost is on its minimum, this: (w) should generate an economic profit. (x) should sell at a price equal to marginal cost. (y) will incur an economic loss. (z) will p
I have a problem in economics on Labor Contracts-Shop Agreements. Please help me in the following question. The union leaders would tend to favor the contract clause needing: (1) A sweat shop. (2) An agency shop. (3) A union shop. (4) An open shop.
A perfectly inelastic demand curve: (w) is an imaginary mathematical construct, and does not exist within reality. (x) corresponds to a perfectly horizontal line. (y) represents a good which absorbs only a small portion of consumers’ budgets. (z
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