Marginal product
I can't discover the answer of this question of my economy assignment. Help me out to go through this question. If any variable input is not scarce input, then at maximum output what would be its marginal product?
The form of elasticity which economists commonly state like an absolute value since this is classically negative is the: (1) price elasticity of supply. (2) income elasticity of demand. (3) price-cross elasticity of supply. (4) price-
This profit-maximizing brickyard of below illustrated figure on the average is, about: (i) making an economic profit of $8 per thousand bricks. (ii) incurring variable costs of $90 per thousand bricks. (iii) suffering an accounting loss of $2 per thou
In which market form, the products are distinguished. Answer: In Monopolistic competition
The present value of future income is: (w) higher, the higher the interest rate. (x) lower, the higher the interest rate. (y) unaffected by the interest rate. (z) purely objective, and not subjective at all. Hello guys I want your advice. Please recommend some views for above Economics pr
Labor productivity tends to rise while: (1) the K/L ratio increases. (2) the K/L ratio decreases. (3) workers forego education. (4) capital becomes more expensive. (5) wage levels fall. Please choose the right answ
Refer to the budget line illustrated in the diagram given. If the consumer's money income is $20, the: 1) prices of C and D cannot be determined.2) price of C is $2 and the price of D is $4. 3) consumer can obtain a combination of 5 units of both C and D. 4)
When a monopolist maximizes the profit in a product market, it will: (w) Hire labor till the marginal revenue product equivalents marginal resource cost. (x) Hire labor till the value of marginal product equivalents marginal resource cost. (y) Pay a wage equivalent to
The market supply schedule for a resource or good shows the: (i) Points in time if production is scheduled for completion. (ii) Amounts sellers wish could be given at prices exceeding the costs. (iii) Maximum quantities which will be offered for sale at particular pri
Predictable results of unexpected development of demand for a competitively produced good comprise increases and in that case gradual decreases in the: (w) price of the good and the profits of producers. (x) consumer surplus derived from the good. (y)
State the Law of supply and explain the factors that affecting supply of commodity
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