Examples of Substitution goods
Illustrations of goods which are close substitutes comprise: (i) Technology and capital. (ii) Motorcycles and helmets. (iii) Chopsticks and forks. (iv) Cowhides and beef. Find out the right answer from the above options.
Illustrations of goods which are close substitutes comprise: (i) Technology and capital. (ii) Motorcycles and helmets. (iii) Chopsticks and forks. (iv) Cowhides and beef.
Find out the right answer from the above options.
Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry
The firm’s net revenue grows whenever the price of a good is cut when the price elasticity of: (i) Demand surpass the price elasticity of supply. (ii) Replacement goods are less than one. (iii) Supply is in an associatively elastic range. (iv) D
When a monopolist produces output where demand is unitarily elastic, in that case marginal revenue equals: (1) price. (2) infinity. (3) negative infinity. (4) one. (5) zero. I need a good answer on the topic of
why is marginal revenue product=marginal resource cost a formula for profit maximization?
I have a problem in economics on Proprietorships and corporations. Please help me in the following question. Most of the firms in United States are organized as ________, however two-third of all gain is received by the _________. (1) Corporations; restricted partners
Generally, as more of a good is consumed, the point is ultimately reached where the total: (1) And marginal utility of the good increase. (2) And marginal utility of good drop. (3) Utility carries on rising however marginal utility drops. (4) Utility drops and its mar
When Wilma can make a brontosaurus burger in 10 min and a cactus cooler in 5, whereas Betty can make the burger in 8 min and the cactus cooler in 3. Then find out the right option from the above: (1) Betty consists of a comparative disadvantage in the coolers and a co
Write down the differentiations between monopoly competition and perfect competition?
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.
Change in quantity demanded: When change in demand takes place due to price alone, it is termed as change in quantity demanded.
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