General law of demand
I have problem in this question based on law of demand. Provide me correct answer of this. Described the circumstances in which the "general law of demand" not hold?
Economic rent is: (1) determined by the supply side. (2) independent of the strength of demand. (3) received whenever owners receive a constant price for a resource that supply curve is upward sloping. (4) included in society's opportunity costs of pr
Since philosophers are hardworking and intelligent individuals who should acquire substantial human capital and advanced degrees to work like philosophers, in that case the shaded area B represents: (1) pure profit. (2) consumer surplus. (3) interest
The ABC industry in UK had poor sales in the summer of 2007. This practice explores why, employing economic analysis. It considers how the forces in the direction of an equilibrium price might affect a firm.
The market prices for big plasma screen TVs are most probable to fall as an effect of: (1) Strikes by unionized workers in the electronics factories in Korea, Japan and China. (2) Seller expectations of Scarcities of plasma screen TVs. (3) Best Buy running competitors
The income distribution into a market economy is primarily found by differences within: (1) effort and sacrifice alone. (2) resource ownership and resource prices. (3) birth and social standing. (4) Lorenz coefficients. (5) political
Subsequent to Fred received a promotion and a big raise; he bought some macaroni and cheese dinners. For Fred, the: (1) Demand for the macaroni and cheese dinners is not predictable. (2) Macaroni and cheese dinners are the normal goods. (3) Demand for cheese and macar
Thorstein Veblen is most particularly remembered for arguing that: (i) Consumer surplus is maximized by setting the marginal utility equivalent to price. (ii) National income [or NI] equivalents gross domestic product [or GDP] in circular flow model.
Assume that a firm with the market power in output market wishes to grow and that hiring more workers needs it to increase salaries 8 percent for all the workers. The output prices will most likely: (i) Increase 8 percent to cover the wage rise. (ii) Increase less tha
Not like a purely competitive firm, here a profit-maximizing monopolist can: (w) charge any price it finds advantageous and be assured of selling all this produces. (x) select a price and output combination by a downward-sloping demand curve. (y) spen
Long run economic profits for monopolistic competitors are prohibited by: (w) easy entry and exit. (x) the kinked demand curve. (y) barriers to entry. (z) diminishing marginal returns. Please choos
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