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.
In the long run no profit-maximizing firm would produce yet a level of output at that: (w) marginal revenue is below the price charged consumers. (x) demand is relatively price inelastic. (y) total revenue would exceed total variable costs but not tot
To begin up his own business, Mitch quit his salaried job and invested $10,000 in savings which had earned him $1,000 per year in interest. He as well employs an apartment as his office that he previously had rented out for $6,500 per year. Which of the following is n
Your family’s home can produce the service of shelter across several years, therefore from the vantage point of economics; your home can most rationally be categorized as: (1) a financial investment. (2) a fixed cost resource. (3) economic capit
The economist most intimately identified along with the emergence and early development of common equilibrium analysis was: (w) Adam Smith. (x) Leon Walras. (y) Alfred Marshall. (z) William Stanley Jevons. Can some
A monopolist: (w) is a price taker in the sale of its product. (x) can charge any price this wishes without reducing profit. (y) is not a price taker into the sale of its product. (z) may or may not be a price taker within the sale of its product.
When LoCalLoCarbo produces the profit-maximizing quantity and charges the profit-maximizing price, in that case its total costs equal the area of the rectangle as: (i) 0P3cq2. (ii) bdP4P1. (iii) 0P4
For Pixie's cheesy fried grits demand is perfectly price inelastic at a price of: (w) P4. (x) P2. (y) 0. (z) None of the above. Q : What is Average Fixed Cost or AFC What What is Average Fixed Cost. Also provide its formula?
What is Average Fixed Cost. Also provide its formula?
When the wholesale price P = $10 per bushel of peaches, it purely competitive peach orchard maximizes profit through producing ___ bushel of peaches at a total economic as profit or loss of $___. (i) zero; loss; -$4,000. (ii) 2000; lo
An oligopoly will maximize profits when this produces where: (w) MR > MC. (x) MR = MC. (y) TR = TC. (z) MR > P. Can anybody suggest me the proper explanation for given problem regarding Economics
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