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When supplies of some resources are upwardly sloping to an industry, in that case increasing the industry’s output results within: (w) higher output due to increased profits from falling input prices. (x) reductions of output because of increase
For a purely competitive firm and for a nondiscriminating unregulated monopolist, the marginal revenue is: (1) identical to the price per unit of output. (2) equal to marginal cost when profit is maximized. (3) greate
From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?
For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.
Vigorous competition into a market depends in the long run most strongly upon the: (w) number of buyers and sellers presently in the market. (x) freedom to enter and exit the market. (y) sizes of the average firm within the market. (z) uniformity [hom
Primary deficit: Primary deficit is the difference among fiscal deficit and interest payments prepared by the government Primary deficit = Fiscal deficit – Interest payments
The merely fast food restaurant conveniently located close to a fast-growing suburb may be rather profitable despite sloppy management and poor quality control. There market power can enable several firms along with excessively high production
Proposals to reform the “welfare mess” comprises: (w) increasing education levels. (x) increasing job training programs. (y) enforcement of the Equal Pay Act. (z) negative income taxes. How can I solve
When average production cost for Plastibristle Inc. falls like market demand increases and more firms go into the industry, Plastibristle is within: (1) an economically efficient industry. (2) a purely competiti
I have a problem in economics on Calculating Firms accounting profit. Please help me in the following question. The firm has $50,000 in implicit costs, and the economic profit of $10,000. This firm’s: (i) Explicit cost equivalent $40,000. (ii) Accounting profit
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