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Why does a marginal benefit curve slope downwards?
The supposition that firms try to maximize the profits: (i) Is the beginning point for most of the economic analyses of how firms function. (ii) Can be wrong for the cases in which the professional corporate managers maximize their own self interests rather than the i
Purely competitive markets and monopolistically competitive markets have in general: (1) the collusive tendencies of large rival firms. (2) extensive negotiations about prices among buyers and sellers. (3) freedom of entry and exit wi
The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co
The price elasticity of supply as in below demonstrated figure is unitary within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Competitive market Select the right Select the right answer of the question. A competitive market will: A) achieve an equilibrium price. B) produce shortages. C) produce surpluses. D) create disorder.
Select the right answer of the question. A competitive market will: A) achieve an equilibrium price. B) produce shortages. C) produce surpluses. D) create disorder.
What is APC? Answer: APC= C/Y.The ratio of income to consumption is termed as APC.
I have a problem in economics on Maximization of the Goals of Firm. Please help me in the following question. The firm’s goal of profit maximization is most distantly analogous to: (i) Revenue maximization by the Internal Revenue Agents. (ii) Ma
A firm possessing important market power may suffer by managerial slack [X-inefficiency] and unessential high costs, which implies that, the firm: (i) is likely to be absorbed through a predatory rival. (ii) realizes less than the max
Due to enhancement of technology, the marginal costs of televisions encompass vanished. How will it influence the supply curve of television? Answer: Supply curve w
For a purely competitive industry in the long-run: (w) neither net entry nor net exit of firms will arise. (x) firms will experience significant economies of scale. (y) the typical firm’s economic profit will exceed its accounting profit. (z) th
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