Monopolistic competition and oligopoly
One of my friends can't succeed to get the solution of this question. Give me solution of this question. Under what circumstances can monopolistic competition and oligopoly describe stable prices?
Elucidate the circular flow of Income in two sector model. Answer: There are just two sectors namely: Firms and households. Households give factor services to the fi
Beginning at equilibrium, a new highest legal price for Whopper Slushees set at P1 would: (i) cause people to purchase more Slushees and fewer cones from Dairy Queen. (ii) Reduce total market demand. (iii) Yield surplus demand and a scarcity. (iv) Inc
If business taxes are decreased and the real interest rate increases: A) consumption and saving will necessarily increase. B) the level of investment spending might either increase or decrease. C) the level of investment spending will necessarily increase. D) the leve
This purely competitive brickyard as in below graph on the average experiences an: (w) economic profit of about $135 per day. (x) economic loss of roughly $150 per day. (y) accounting profit of less than $100 per day. (z) accounting loss of more than
Nick answers ‘help wanted’ ads through making phone calls and scheduling the interviews. Whenever a prospective employer asks for queries and resume Nick regarding his references and skills, then the firms are practicing an illustration of: (i) Signaling.
Monopolists are frequently considered inefficient since they set: (w) MR = MC to maximize profits. (x) P > MSC. (y) MSR < MSC. (z) output where average revenue equals price [AR = P] as well as marginal revenue equals marginal cost [MR = MC].
Determine relationship between MPC and MPS? Answer: MPC + MPS = 1
Describe the Law of Diminishing marginal utility? Answer: Law of Diminishing marginal utility: As a consumer goes on consuming more and more units of a commodity th
Which of the given statements is not correct? (w) Wealth is less equally distributed than income. (x) U.S. tax and transfer programs tend to make income more evenly distributed. (y) Some disincentives for work plague even the most efficient of proposed welfare reforms
Types of market in economy: There are two kinds of market in this economy: Factor market-for Factors of Production and Product market-for goods and Services.
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