Illustrate normative statement
In economics illustrate normative statement?
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The term normative statement in economics is just like a normative statement in any other academic subject. We can say it is a statement about something with an implicit value judgment or moral claim.
It is differ from a descriptive statement i.e. supposed to be ideologically or value neutral.
Price minus average total cost i.e., P - ATC equals: (w) total profit. (x) marginal cost. (y) marginal revenue. (z) profit per unit of output. Please choose the right answer from above...I want you
When, relative to most another forms of business, farm incomes are tiny in comparison to farmers’ net wealth, in that case: (w) rates of return in agriculture are below those from other investments. (x) agriculture generates pos
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You desire to purchase a used car. The dealer knows accurately how well the car works and how much it must cost, although you are not sure of its value. This is an illustration of: (i) Asymmetric information. (ii) Dealer rights. (iii) Predatory pricing. (iv) First mov
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At point c, in illustrated figure the supply curve into this graph is: (w) perfectly price elastic. (x) relatively price elastic. (y) unitarily price elastic. (z) relatively inelastic. Discover Q & A Leading Solution Library Avail More Than 1457463 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1930557 Asked 3,689 Active Tutors 1457463 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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