long run supply
Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.
Describe precautions to be taken in estimating national income by expenditure technique? Answer: The following precautions are to be taken while evaluating N.I. by
When a purely competitive industry is into long run equilibrium, in that case a typical firm can: (w) earn normal accounting profit although only zero economic profit. (x) incur economic losses when these are offset by accounting prof
A monopolist maximizes total revenue through producing where is: (w) marginal revenue = marginal cost [MR = MC]. (x) marginal revenue = 0. (y) demand is elastic. (z) demand is inelastic. How can I solve my
Why Features of monopolistic competition is monopolist in nature? Answer: (a) Control over price (b) Downward sloping demand curve
Monopolistic competitors generate differentiated goods which have numerous potential: (1) substitutes and important barriers to entry protecting them from potential rival producers. (2) close substitutes whose suppliers face no long run barriers to en
When interest rates fall and this lowers mortgage payments therefore homebuyers can afford to buy more costly houses, the predictable increase within housing prices is most directly a symptom of: (i) capitalization. (ii) a speculative
Long run for the production theory is a time period across which: (i) All production occurs. (ii) Firms can adjust all their costs and resources. (iii) Bigger firms absorb the smaller firms. (iv) Marginal costs become decreasingly significant. (iv) Im
What are the three basic shapes of yield curves in the marketplace?
I have a problem in economics on Technology and resource costs. Please help me in the following question. The short-run supply of macadamia nuts is considerably recognized by: (1) Preferences and tastes. (2) Technology and resource costs. (3) The number of consumers.
If the price of K declines, the demand curve for the complementary product J will: A) shift to the left. B) shift to the right. C) decrease. D) remain unchanged. Help me to get through from this problem.
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