Marginal rate of substitution-marginal opportunity cost
What is the marginal rate of transformation or marginal rate of substitution or marginal opportunity cost? Answer: It is the ratio of units of one good scarified to generate one more unit of another good.
What is the marginal rate of transformation or marginal rate of substitution or marginal opportunity cost?
Answer: It is the ratio of units of one good scarified to generate one more unit of another good.
Name the Canada’s top three trading partners?
When a firm shuts down, short-run losses of it equals total: (w) implicit costs. (x) variable costs. (y) fixed costs. (z) resource costs. I need a good answer on the topic of Economics problems. Pl
Can someone help me in finding out the right answer from the given options. Which of the following below seems the contradiction of the law of diminishing marginal utility? (1) Ken enjoys his 13th beer of the evening more than his initial. (2) Joan recognizes that her
In the long run within a market system, all intermediaries earn income only when they help sellers and buyers: (w) raise surpluses. (x) by innovating new products. (y) reduce transaction costs. (z) ga
A Lorenz curve can be utilized to demonstrate the: (w) functional distribution of income. (x) income necessary to maintain specified living standards. (y) demand for low wage labor. (z) cumulative percentage of income received by cumulative percentage
The law of supply defines that higher prices cause rise in the: (i) Demand for good. (ii) Supply of the good. (iii) Quantity supplied. (iv) Gains of investors. Can someone please help me in finding out the accurate answer from the
The time and other opportunity costs incurred in obtaining information regarding products and prices and in that case driving to and from markets are illustrations of: (1) mobilization costs. (2) contracting costs. (3) transactions co
One of the main disadvantages of operating a corporation in relative to operating a sole partnership or proprietorship is that corporations tend to: (i) Offer just limited legal liability to their stockholders. (ii) Utilize specialized management pers
Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
A factor tending to discourage the formation of huge oligopolies in the past two or three decades would be: (w) vigorous enforcement of anti merger laws. (x) technological advances which tended to favor smaller companies. (y) computerized internal inf
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