Market Form-price taker
In which market form, the firm is a price taker? Answer: In Perfect competition
In which market form, the firm is a price taker?
Answer: In Perfect competition
Placing an excise tax upon goods along with low-income elasticities of demand will share out the tax burden as: (1) proportionally between high-income and low-income households. (2) disproportionately on high-income households. (3) disproportionately
Allocating scarce resources hence they are put to the uses which best satisfy consumer wants is facilitated through: (w) highly bureaucratic, centralized decision making. (x) tax breaks for wealthy people which “trickle down” to consumers. (y) vigorous com
Which type of model is used by the economists to analyze competitive market?
I have a problem in economics on Analytic Time-The Short Run. Please help me in the following question. In short run: (1) At least one resource is fixed. (2) Firms can enter or exit the industry. (3) Economies of the scale are present. (4) Total fixed cost rises with
Average variable costs per generic brick of this pure competitor equal approximately: (i) $.02 (2 cents per brick). (ii) $.04 (4 cents per brick). (iii) $.07 (7 cents per brick). (iv) $.09 (9 cents per brick).
In the demonstrated figure, total revenue is greatest for cheesy fried grits of Pixie at a price of as: (w) P1. (x) P2. (y) P3. (z) P4. Q : Substitutes and compliments pizza and pizza and sausage substitute or compliment wheat and rye substitute or compliment
pizza and sausage substitute or compliment wheat and rye substitute or compliment
For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.
When cranberry farming is an increasing constant cost industry and that firm is typical, in that case an increase within the market demand for cranberries will give in a long run equilibrium price as: (i) less than P1. (ii) greater than P2.
State how is a single buyer a price taker in the perfect competition? Answer: A single buyer’s share in total market demand is too significant that the buyer
18,76,764
1928702 Asked
3,689
Active Tutors
1436925
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!