Perfectly elastic supply problem
When will a rise in demand entail an increase in the quantity demanded however no change in the price?
Expert
In case of perfectly elastic supply, the increase in demand causes no change in price however it will lead to a rise in quantity.
The minimum revenue which will induce a firm to produce a specified output in place of shutting down into the short run is the: (a) maximum such consumers are willing to pay for that output. (b) total variable cost of producing such output. (c) short-
Indifference curve: It is the combination of two goods that provides consumer similar level of satisfaction.
Joy waits into a long line at her local bookstore therefore she can be between the first to buy and read a newly-printed hardback copy of the newest Harry Potter adventure. And Lindsay waits till a lower priced paperback edition is printed just before buying any Potte
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
Can someone help me in finding out the right answer from the given options. The substitute goods are: (i) Usually consumed altogether. (ii) Inferior to luxury goods. (iii) Generally free goods. (iv) Replacements for each other. Q : Goals of the Firm Most of the Most of the economists believe firms tend to proficiently maximize the profits since of: (i) Stockholder pressure. (ii) Competition for the management positions. (iii) Principal-agent conditions. (iv) The chance of corporate take-over. Q : Income elasticity of demand Income Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income. Q : Economics expectations of price hike expectations of price hike for durable goods tend to:
Most of the economists believe firms tend to proficiently maximize the profits since of: (i) Stockholder pressure. (ii) Competition for the management positions. (iii) Principal-agent conditions. (iv) The chance of corporate take-over. Q : Income elasticity of demand Income Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income. Q : Economics expectations of price hike expectations of price hike for durable goods tend to:
Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income. Q : Economics expectations of price hike expectations of price hike for durable goods tend to:
expectations of price hike for durable goods tend to:
When a firm possesses some market power, in that case the firm’s marginal revenue is negative inside the range of output where demand is: (i) price elastic. (ii) unitarily elastic. (iii) relatively price inelastic. (iv) perfectl
Marginal propensity to consume: It is stated as the measure of rate at which the aggregate consumption expenditure changes as the national income changes. MPC= C/Y
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