How consumption influence the equilibrium price
How does rise in price of a substitute good in consumption influence the equilibrium price?
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Answer: With the increase in price of the substitute good, the equilibrium price of concerned good will rise owing to shift in demand curve to the right.
Price cross elasticity of demand measures the responsiveness of: (1) quantity of a good sold to changes within its price. (2) quantity sold to changes within income. (3) price of one good to changes within the sales of other. (4) amount demanded of on
Can someone help me in finding out the right answer from the given options. Dissimilar to a purely competitive hirer of labor, the firm with monopsony power can: (i) Both set any wage it wishes and hire as many workers as it desire
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The labor monopsonist will hire labor up to the point where the marginal: (i) Revenue product of the labor equivalents the wage. (ii) Resource cost of labor equivalents the salary. (iii) Revenue product of labor equivalents its marginal resource cost. (iv) Resource co
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The price elasticity of supply in given grph is infinite therefore supply is perfectly price elastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : What is involuntary unemployment What What is involuntary unemployment: The people who are willing to work at given wage rate do not obtain work.
What is involuntary unemployment: The people who are willing to work at given wage rate do not obtain work.
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