essay
why is marginal revenue product=marginal resource cost a formula for profit maximization?
This monopoly makes Q units and experiences as: (1) economic profits equal to 0cbQ. (2) economic losses equal to cpab. (3) more than normal accounting profits. (4) marginal cost in excess of average total cost. (5) total revenue less than total cost.<
A large negative GDP gap implies: A) an excess of imports over exports. B) a low rate of unemployment. C) a high rate of unemployment. D) a sharply rising price level.
Evidence that may potentially be cited as conflicting with the law of diminishing marginal utility would comprise: (i) Della’s enthusiasm for all-you-can-eat buffet diminishes subsequent to her fifth plate of lasagna. (ii) Jethro trades in his 1981 Gremlin on th
The income elasticity of demand is a measure of the: (w) relative responsiveness of quantity demanded to changes within income. (x) absolute change within demand yielded by an absolute change within income. (y) slope of the income-consumption curve. (
Who decides price beneath perfect competition? Answer: Price under perfect competition is recognized by the forces of market demand and supply in business.
Of the given, the good for that demand is probable to be least price elastic is: (i) electricity used to light downtown streets. (ii) airline tickets in late December. (iii) Bic pens. (iv) chocolate milk. (v) Merit cigarettes. Q : Completely elastic price of demand On On such demand curve, the demand for DVD games is completely elastic at a price of: (w) $50. (x) $25. (y) $20. (z) None of the above. Q : Describe inferior goods in economics Inferior goods in economics: Inferior goods refer to such goods whose demand reduces with the rise in income of consumer.
On such demand curve, the demand for DVD games is completely elastic at a price of: (w) $50. (x) $25. (y) $20. (z) None of the above. Q : Describe inferior goods in economics Inferior goods in economics: Inferior goods refer to such goods whose demand reduces with the rise in income of consumer.
Inferior goods in economics: Inferior goods refer to such goods whose demand reduces with the rise in income of consumer.
An emphasis on equality of opportunity, although not essentially equality of result, is a center-piece of a system of distribution termed as: (1) meritocracy. (2) laissez faire capitalism. (3) feudalism. (4) socialism. (5) syndicalism
When the demand and supply for a good both raise, price: (w) and quantity both rise. (x) and quantity both fall. (y) falls but quantity increases. (z) changes need more information, when quantity rises. Discover Q & A Leading Solution Library Avail More Than 1443253 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1933878 Asked 3,689 Active Tutors 1443253 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1933878 Asked
3,689
Active Tutors
1443253
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!