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.
When Y = income, that is the income elasticity of demand is approximately measured when the value of: (i) (% change in Q) / (% change in Y). (ii) ratio of the slopes of demand relative to supply. (iii) (% change in Q) / (% change in P). (iv) constant
When physically and mentally capable individuals who are born in impoverished families fail to work after they develop up but since they can rely on charity, in that case they are experiencing: (1) involuntary poverty. (2) relative poverty. (3) a vicious cycle of pove
When the price for Christmas trees is initially P1, in that case in the long run: (w) firms will neither enter nor exit this industry. (x) entry of firms will shift curve supply curve A to the right. (y) exit of firms will shift supply curve A to the left.
What is the difference between Market Demand and Individual Demand?
Economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Marginal returns are reducing. (2) Sellers experience an honest hazard. (3) Marginal utility is negative. (4) Buyers suffer from unfavorable choice. (5) Exc
Discuss the impact of a monopoly on the welfare of the citizens of the country. In your discussion you should include policies that can be implemented by the government too reduce the abuse of dominant position in the market.
The strategies of monopolistic competitors invariably comprise: (1) industrial espionage. (2) predatory pricing. (3) product differentiation. (4) price-fixing. (5) cutthroat competition. I need a good answer on the
Complements: The two goods for which a rise in the price of one good leads to a reduction in the demand for other.
Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
When it is feasible for total revenue to exceed variable costs, in that case a monopolist which does not price discriminate maximizes profits or minimizes losses from producing the output where marginal revenu
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