essay
why is marginal revenue product=marginal resource cost a formula for profit maximization?
Short-run profit is maximized only while: (w) economic profit > accounting profit. (x) total cost = total revenue. (y) MC = MR (greater than minimum AVC). (z) costs are minimum or revenue is maximum. How can I s
Can someone help me in finding out the right answer from the given options. When firms function in purely competitive labor markets that produce a fixed money wage of w, then firms maximize profit by hiring the labor where w = the
Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be
Tax: It is a compulsory payment prepared by household and firm to government.
The law of supply defines that there is a positive relationship among: (1) The Price and quantity supplied. (2) Technology and production. (3) Purchases and the accessibility of goods. (4) Supply and the demand it makes. Q : Laws and regulations for competitive Government regulation intends at certain potentially competitive prices or transactions frequently induce private adjustments through firms and individual therefore unexpected results comprise: (w) increased rates of growth of tax revenues. (x) rapid
Government regulation intends at certain potentially competitive prices or transactions frequently induce private adjustments through firms and individual therefore unexpected results comprise: (w) increased rates of growth of tax revenues. (x) rapid
An income elasticity of demand for a good equivalent to two implies roughly that: (1) demand curves for the good slope upward. (2) the product is an inferior good. (3) each 1% gain in income boosts the amount sold through 2%. (4) a 20% gain in income
When households become more willing to hold less liquid assets, in that case the: (w) interest rate rises. (x) present value of future income falls. (y) interest rate falls. (z) stock market will crash. I need a go
For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems
When the price of a financial asset is $1,000 and the interest rate is 10 percent, in that case investment is not justified for: (1) a perpetuity paying $100 annually. (2) an income stream paying $500, $400, and $300, respectively, at the ends of all
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