essay
why is marginal revenue product=marginal resource cost a formula for profit maximization?
When firms have market power although do not price discriminate perfectly, in that case the market equilibrium will be inefficient since: (w) P = AC = MC. (x) total revenue equals total costs [TR = TC]. (y) MSB = P > MC = MSC. (z)
I have a problem in economics on Existence of Economies of Scale. Please help me in the following question. Economies of the scale exist whenever, as output is raised: (i) Average costs increase. (ii) Explicit costs increase relative to the value of output. (iii) Aver
Assume that HoloIMAGine’s patents for holographic technology lapsed, as well as entry of new competitors within this market eroded the demand for HoloIMAGine technology, even though the firm retains several market power since competitors’
Barter system: It is the Exchange of goods for goods is termed as barter system.
David Ricardo: (w) was the originator of the theory of pure economic rent onto land. (x) believed that land rent was earned since land would not be available at a zero price. (y) observed that marginal land which is just barely helpful commands positi
Government subsidies on a good because of: (w) less of the good to be produced and purchased. (x) prolonged excess demands for the good. (y) buyers to pay lower prices, when sellers receive higher prices. (z) prolonged shortages of the good.
Illustrate any three causes of decrease in demand? Answer: 1) Reduce in income of consumer. 2) Fall in the price of alternate good.3) Increase in the price of complementary goods.
The competitive firm will demand more labor when: (i) Technological advances support automation. (ii) The price of firm's output increases. (iii) More firms enter in the industry. (iv) The value of marginal product is beneath the wage rate. (v) Worker
Give the answer of following question .Tell examples of command economies: A) the United States and Japan. B) Sweden and Norway. C) Mexico and Brazil. D) Cuba and North Korea.
Select the right ans wer of the question. Which of the following would we expect to contain the highest poverty rate? A) white households headed by males B) elderly white households C) white households headed by females D) African-American households headed by femal
18,76,764
1939704 Asked
3,689
Active Tutors
1437331
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!