Explain the infinitely elastic demand
Explain the infinitely elastic demand.
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Perfectly elastic demand also called infinitely elastic:
While a small change in price leads to infinite change in quantity demanded, this is termed as perfectly elastic demand. But the demand curve is a horizontal straight line as specified below. Where ep= ∞ (infinity)
what is exceptional demand curve and its explanation?
For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : Value of the Average Product Hulk is a Hulk is a fitness counselor who coaches five clients at a time during exercise groups at Beefcake Body Builders. Hulk’s hourly wage is of $17, and Beefcake charges his clients $20 for every hour-long conditioning session. Therefore average value of produ
Hulk is a fitness counselor who coaches five clients at a time during exercise groups at Beefcake Body Builders. Hulk’s hourly wage is of $17, and Beefcake charges his clients $20 for every hour-long conditioning session. Therefore average value of produ
Define the term opportunity cost concept.
The costs of investing within human capital are probably to be borne by the employee when human capital a worker obtains “on the job” is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Q : Diminishing Returns and Increasing Costs I have a problem in economics on Diminishing Returns and Increasing Costs. Please help me in the following question. The concave (or bowed out) production possibilities frontier means that the opportunity costs are: (i) Constant (ii) Increasing (iii)
I have a problem in economics on Diminishing Returns and Increasing Costs. Please help me in the following question. The concave (or bowed out) production possibilities frontier means that the opportunity costs are: (i) Constant (ii) Increasing (iii)
Explain the cost function in briefly.
When an exceptionally warm winter caused the quantity of cashmere sweaters supplied to exceed the quantity demanded at the present market price, in that case: (1) cashmere sweaters will be more heavily demanded subsequent year than this year. (2) an overload of cashme
In what condition the concept of marginal costing basically applied?
Government policy is probably to help raise the total supply of human capital within the long run through: (w) increased public education and retraining programs. (x) minimum wage legislation. (y) laws prohibiting discrimination in employment. (z) str
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