implications of law of demand
what are the implications of law of demand to the government,household and business
For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems
This given figure demonstrates as: (w) Lorenz curve. (x) familial income distribution graph. (y) Gini curve. (z) Blanc income standard curve. Q : State drawbacks of barter system State State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s
State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s
The procedure in which the technology and human knowledge are employed to apply energy to convert materials to make the materials more precious is known as: (1) Social overhead. (2) Capitalism. (3) Production. (4) Construction. (5) Profit-seeking. Q : Problem regarding Principal Agent The The baseball manager, whose players decline to bunt occasionally, rather always swinging for the homeruns, faces a: (i) Second-mover drawback. (ii) Prisoner’s dilemma. (iii) Principal-agent problem. (iv) Grim strategy. Can so
The baseball manager, whose players decline to bunt occasionally, rather always swinging for the homeruns, faces a: (i) Second-mover drawback. (ii) Prisoner’s dilemma. (iii) Principal-agent problem. (iv) Grim strategy. Can so
When the price of a good increase slightly, then total revenue: (w) falls in the inelastic range of the demand curve. (x) rises over the elastic range of the demand curve. (y) stays close to zero in the unitary-elastic range of the de
I have a problem in economics on Problem concerning Exploitation. Please help me in the given question. Whenever resource suppliers are salaried less than the values of their marginal products [or VMPs], then they are stated to be: (p) Monopsonistic. (q) Monopolistic.
Widely accepted objectives for microeconomic policy comprise: (w) full employment. (x) general price stability. (y) economic development. (z) efficiency, freedom and equity. Hey friends please give your opinion for
Assume that no externalities in production or consumption exist and the income distribution is universally viewed such as “fair.” When this firm could price discriminate perfectly, one condition for socially optimal output would be for: (i
Subsequent to Fred received a promotion and a big raise; he bought some macaroni and cheese dinners. For Fred, the: (1) Demand for the macaroni and cheese dinners is not predictable. (2) Macaroni and cheese dinners are the normal goods. (3) Demand for cheese and macar
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