Illustrations of Micro economic variables
Give two illustrations of Micro economic variables studies. Answer: a. Individual demand b. Individual savings
Give two illustrations of Micro economic variables studies.
Answer:
a. Individual demand b. Individual savings
When yearly per capita income increases from $13,500 to $26,500 and custom car sales increase from 100,000 to 200,000, by using the arc elasticity formula, then the income elasticity of demand is: (i) 0.50. (ii) 0.75. (iii) 1.00. (iv)
An illustration of predatory behavior would be a firm: (w) building excess capacity to deter entry. (x) lowering price because of production cost decreases. (y) adopting a cost reducing technological innovation. (z) lowering prices to remove excessive
I have a problem in economics on Marginal factor Costs. Please help me in the given question. The synonymous words marginal factor costs or marginal resource costs signify to the: (p) Cost incurred in generating an additional unit of the capital. (q) Cost to the resou
I have a problem in economics on Wage Differentials. Please help me in the following question. The major determinants of the wage differentials comprise: (1) General human capital needs. (2) Working conditions. (3) Occupational crowding (4) Specific h
Can someone please help me in finding out the accurate answer from the following question. Job applicants employ polished resumes explaining education, skills and work experience, accompanied by the supportive letters of recommendation letters as tools in the procedur
When physical capital becomes cheaper, in that case: (w) some workers may be displaced but worker productivity usually rises. (x) automation will make jobs for more workers. (y) workers will supply more labor services. (z) labor supply curves will move in backward ben
Brands of ready-to-eat cereal by Kellogg, Post, General Mills and Quaker [for example Frosted Flakes, Raisin Bran and Cheerios] account for more 85 percent of all breakfast cereals sold. Here the ready-to-eat cereal industry is an illustration of: (w)
The firm from the given list with relatively the most market power would probably be: (w) General Motors. (x) the world's biggest wheat farm. (y) a gas station in Wayout, Wyoming that has no competitors into 70 miles. (z) the BestBuy in Durham, North
“Law of Distribution” given by Vilfredo Pareto asserts that the: (w) relative prices for goods reflect how intensively labor is used as an input. (x) the percentages of national income going to labor and to capital is a co
Average and Outputs prices for CDs and DVDs both rose throughout 1999 to 2000 (before the start of Napster and subsequent file-sharing software), which implying: (1) supply of prerecorded music should have grown. (2) law of demand doesn’t apply
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