perfect competition
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
All profit maximizing firms which are not shut down since demand never exceeds average variable costs will make where marginal revenue as: (w) excludes average revenue. (x) equals average variable cost. (y) equals mar
Moving from point d to point e beside demand curve D, the price elasticity of demands of DVDs of video games at equal: (a) 0.8. (b) one. (c) 1.10. (d) 1.25. (e) 2.50 Q : Implication of freedom of entry and Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
Why borrowing is treated as capital receipts? Answer: Because it rises the liability of government.
The economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Sellers experience the moral hazard. (2) Marginal returns are diminishing. (3) Marginal utility is negative. (4) Buyers suffer from adverse choice. (5) Extreme cho
When planned savings are bigger or smaller than planned investment, then what will be its consequence on inventories? Answer: It will raise or reduce the inventorie
In efforts to offset specific failures of the private sector, government policy within a mixed-capitalist economy would be least reasonably intended at an objective of: (1) creating externalities to spread the costs of various activities across all me
For identical level of guaranteed transfer payments, the earn income and incentive to work is probable to be: (w) greater with a negative income tax than with transfers in kind. (x) greater with transfers in kind than
The contracts needing employment after some worker’s jobs have been made obsolete through automation are illustrations of: (i) Blacklisting. (ii) Labor-reducing protectionism. (iii) Check-off provisions. (iv) Yellow dog contracts. (v) Feather-bedding.
I have a problem in economics on organizing business to maximize the funds. Please help me in the following question. The entrepreneur who wants to maximize her firm’s admittance to funds from investors or banks must organize the business as a: (1) Proprietorshi
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