Goods produced and sold in the US
Who decides what goods services will be produced and were sold in the US?
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It is mostly the American consumer. The US government also plays a big role in the nation's economy, constituting roughly 36% of GDP - making it the largest and thus most influential economic institution & buyer. Manufacturers or those controlling supply may also manipulate demand through advertising and popular media.
For hamburgers the demand is relatively elastic. When the price of hamburgers increases, in that case: (i) the quantity demanded will go up. (ii) its demand will increase. (iii) total revenue will increase. (iv) total revenue will reduce.
Illegal price collusion is probably when the market structure for an industry is: (1) monopolistic competition. (2) a monopoly. (3) an oligopoly. (4) pure competition. (5) contestable through exit and entry. Q : Horizontal summation of individual The purely competitive industry’s demand for the labor is: (i) Less elastic than the horizontal summation of individual firm’s demands. (ii) Perfectly elastic. (iii) Upward sloping as of the diminishing marginal returns to labor. (iv) Equi
The purely competitive industry’s demand for the labor is: (i) Less elastic than the horizontal summation of individual firm’s demands. (ii) Perfectly elastic. (iii) Upward sloping as of the diminishing marginal returns to labor. (iv) Equi
The most common type of competition among firms in monopolistic competition is: (1) price competition. (2) product differentiation. (3) collusion. (4) predatory pricing. (5) cutthroat competition. I need a good ans
Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices. Q : Relationship between Total utility and Describe the relationship between Total utility (TU) and Marginal utility (MU)? Answer: Q : Risk-Return-Diversification The below The below table presents the three possible states for stocks A and B returns. (a) De
Describe the relationship between Total utility (TU) and Marginal utility (MU)? Answer: Q : Risk-Return-Diversification The below The below table presents the three possible states for stocks A and B returns. (a) De
The below table presents the three possible states for stocks A and B returns. (a) De
Choose the right answer . A positive statement is concerned with: A) some goal that is desirable to society. B) what should be. C) what is. D) the formulation of economic policy.
is price in the law of demand an absolute or relative price
The Asymmetric information on quality can outcome in: (i) Not all potential profits from the exchange being realized. (ii) Lower equilibrium prices. (iii) Purchases of unexpectedly low-quality items termed as ‘lemons’. (iv) Some transactio
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