ordinal utility
In economics, what is ordinal utility and what are its assumptions
Factors establishing elasticity of supply: The factors below will persuade the elasticity of supply: 1. Modifications in cost of production. 2. Behavior pattern of producers. 3. Accessibility of faci
Location rents are: (1) really just normal profits. (2) generated while customers bear lower transportation costs through buying from one firm over another. (3) economic interest on the capital improvements to land. (4) unrelated to population density
To assert that a firm made exactly zero economic profits as well signifies that it made: (i) Zero accounting profits. (ii) Normal economic profits. (iii) Negative accounting profits. (iv) No profits at all. Choose the right answer
For a negative income tax the break-even level of income plan (NIT) is: (1) negatively related to the plan’s basic income floor. (2) positively related to the negative income tax rate. (3) a main influence on the total cost of t
Break-even levels of output for a firm happen where is: (w) total revenue equals total economic cost. (x) accounting profits are zero. (y) total variable cost equals total fixed costs. (z) competitive firms will shut down within the short run.
For Cournot’s Spring Water the demand has unitary price elasticity at: (i) point a. (ii) point b. (iii) point c (iv) point d. (v) point e. Q : Total revenue by quantity If LoCalLoCarbo produces the profit-maximizing quantity and charges the profit-maximizing price, in that case its total revenue equals the area of the rectangle as: (i) 0P2fq4. (ii) bdP4P1. (iii) 0P4dq2
If LoCalLoCarbo produces the profit-maximizing quantity and charges the profit-maximizing price, in that case its total revenue equals the area of the rectangle as: (i) 0P2fq4. (ii) bdP4P1. (iii) 0P4dq2
When total revenue to a firm is uninfluenced by small price changes, in that case demand is: (1) relatively price elastic. (2) relatively price inelastic. (3) unitarily price elastic. (4) vertical. (5) horizontal.
Predatory behavior would not comprise: (w) aggressive advertising. (x) monopolizing access to essential resources. (y) lowering prices. (z) getting a patent on a new invention which is likely to start a new industry. Q : Complementary Goods-Increasing prices When the price of hot dogs rises, you would suppose the demand for: (i) mustard to rise. (ii) Hot dogs to reduce. (iii) Buns to rise. (iv) Hot dogs to rise. (v) Buns to reduce. Find out the right answer from the above options.
When the price of hot dogs rises, you would suppose the demand for: (i) mustard to rise. (ii) Hot dogs to reduce. (iii) Buns to rise. (iv) Hot dogs to rise. (v) Buns to reduce. Find out the right answer from the above options.
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