Oligopoly and Economic Welfare
Assume that P = MSB and the firms in an oligopoly are in equilibrium where P>MC. This follows that: (1) P=MSC. (2) MSB>MSC. (3) MSB Hey friends please give your opinion for the problem of Economics that is given above.
Hey friends please give your opinion for the problem of Economics that is given above.
Revenue of a firm: It is the sale or money receipts from the sale of product.
Suppose an economy is in equilibrium condition. Its consumption function is C = 300 +0.8Y and investment is 700 find out its national income.
For a specified distribution of income within a purely competitive economy, marginal social benefit will the same marginal social cost unless: (w) “hit and run” entrepreneurs prosper. (x) economic profits
When a successful cartel which cannot price discriminate maximizes the joint profits of its members: (1) the marginal social benefits of additional output exceed the marginal social costs of output. (2) this is impossible for any consumer to gain with
A monopolist which does not price discriminate has a marginal revenue curve which slopes down faster than does the demand curve the monopolist faces since: (1) economies of scale are significant. (2) selling more requires lowering the
Can someone please help me in finding out the accurate answer from the following question. The Caveat venditor is an ancient legal doctrine which encourages: (i) Consumer exploitation. (ii) a ‘buyers beware’ approach. (iii) Enforcement of the seller’
When the number of textbooks sold falls/drops 10 percent whenever college tuitions double, textbooks and college enrollments are _____ goods and their cross-elasticity coefficient is mainly _____. (i) Superior; 5.0. (ii) Inferior; 10.0. (i
Direct taxes: Whenever the liability to pay tax and the burden of that tax fall on similar person, it is termed as direct tax. Illustrations are: wealth tax, income tax, corporation tax, gift tax and so on.
The labor union contracts, a comparable worth rule, or minimum salary laws might boost up equilibrium employment when a firm has been practicing: (i) Price discrimination. (ii) Monopolistic exploitation. (iii) Feather-bedding. (iv) Blacklisting. (v) Monopsonistic expl
Given that a MU of French fries of 35 utils and a MU for serving of potato chips at 25 utils, when their respective prices are $1.50 and $.80, the person who wants to maximize utility from the consumption of both of such goods would consume: (i) The similar amount of
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