Explain about minimum legal price
A minimum legal price is called a price: (1) floor. (2) guarantee. (3) foundation. (4) stabilizer. (5) subsidy. I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.
A minimum legal price is called a price: (1) floor. (2) guarantee. (3) foundation. (4) stabilizer. (5) subsidy.
I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.
Budget line: Budget line exhibits all combinations of two goods which a consumer can purchase with his income at a specified price.
An opportunity cost to the user, although not to society as an entire, which would be the: (w) accounting profits realized by a firm of CPAs. (x) interest paid by a borrower for a bank loan. (y) rent paid by a sharecropper to a plantation owner. (z) m
Contestable markets and purely competitive markets are related in that both: (w) consist of large numbers of firms. (x) consist of firms who are price takers. (y) are characterized by easy entry. (z) are characterized by large economies of scale.
In which market form, the products are distinguished. Answer: In Monopolistic competition
While this firm maximizes economic profits, in that case marginal revenue and marginal costs would be: (1) $4 per unit. (2) $6 per unit. (3) $8 per unit. (4) $10 per unit. (5) $12 per unit.
In short run, the demand for mink coats is least probable to change in response to: (i) Development of the petroleum based faux fur fabric which can’t be differentiated from genuine mink except via DNA analysis. (ii) Armies of a
Programs which guarantee farmers minimum prices which exceed equilibrium prices will yield: (w) cheaper food for consumers. (x) excess demand in food markets. (y) excess supply at the minimum price. (z) higher equilibrium prices.
In equilibrium, the relative value of an additional unit of a good to a specified consumer is approximately proportional to the: (w) marginal revenue to the firm that sold the good. (x) marginal production cost of the good. (y) relative market price of the good. (z) a
Along this demonstrated in below demand curve for DVD games, demand is more elastic at a price of: (w) $10. (x) $6. (y) $1. (z) zero. Q : Characteristic of a purely competitive A purely competitive firm: (w) faces a perfectly inelastic demand curve. (x) sets its own price. (y) is a price taker. (z) sells a differentiated product. Can someone explain/help me with best solution about proble
A purely competitive firm: (w) faces a perfectly inelastic demand curve. (x) sets its own price. (y) is a price taker. (z) sells a differentiated product. Can someone explain/help me with best solution about proble
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