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.
A Rise in the quantity of frozen vegetarian lasagna demanded would be much probable to outcome from raises in the: (i) Cost of raw vegetables. (ii) Wages paid workers in lasagna developed plants. (iii) Number of people who perform strict vegetarianism. (iv) Costs of o
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
When cost structures and market demands were identical for each of the given types of firms, in that case the structure-conduct-performance paradigm would predict the greatest profits for: (1) pure monopolist. (2) price-discriminating monopolist. (3)
If estimating the nature of a probability function for an event entails considerable guesswork since experience along with the event is more sporadic or rare which any estimates are extremely speculative, in that case we confront a concept Fra
The passage of a considerably higher legal minimum wage would be most probable to advantage: (1) Philosophy majors. (2) American high-school drop-outs in their teens. (3) Foreign workers whose manufacture is exported to the United States. (4) Unionized construction wo
Can someone help me in finding out the right answer from the given options. Hourly salaries as reflected in take-home pay are probable to be less than the values of worker’s marginal product (or VMP) in part since of: (1) Monopsonistic exploitation which causes
Define Marginal Cost and also its functions?
Whenever an organization’s wage structure reflects the keenness of individual staff to work, terms which are most applicable comprise: (i) Monopsonistic exploitation & wage discrimination. (ii) Monopolistic exploitation and the separation of possession and c
Every firm which can considerably influence the price of its output: (i) is a pure monopoly. (ii) will be more profitable than any firm in pure competition. (iii) has market power: (iv) is essentially large relative to the market demand curve facing the firm. (v) has
Explain what are the several uses for break-even analysis?
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