Price elasticity of supply of commodity
Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree? Answer: Unitary elastic (es = 1).
Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree?
Answer: Unitary elastic (es = 1).
Assets turn into less desirable to prospective financial investors while: (w) they become more liquid. (x) interest rates increase. (y) their prices go up. (z) default risks decrease. How can I solve my Eco
Name the System of Note-issue in India. Answer: In India, the system of note-issue is the Minimum Reserve System. The RBI is needed to keep minimum reserves of Rs 2
When the annual interest rate is 12 percent and a rental house can be expected to rent perpetually for $1,000 monthly, rough computation suggests the house contain a present value of: (1) $240,000. (2) $144,000. (3) $100,000. (4) $72,000. (5) $12,000.
I have a problem in economics on Problem on Paradox of Value. Please help me in the following question. Since diamonds are much expensive as relative to water, the: (i) Fundamental needs of people don’t comprise water. (ii) Consumer surplus from consuming the di
At market price P0, this purely competitive industry’s characteristic firms will earn: (i) positive economic profit. (ii) negative economic profit. (iii) zero economic profit. (iv) negative accounting profit. (v) important dividends f
Some researchers have determined that citizens of some prosperous countries [for example, Japan] explain themselves as “happy” far less frequently, onto average, than citizens of a few poorer nations [for example, Indonesia]. Nevertheless, almost all studi
Maggie thinks there are main differences among Crest, Colgate, Aquafresh and Rembrandt toothpastes, and eventually chooses Crest. Therefore her perception is mainly a consequence of: (1) successful product differentiation. (2) monopolistic competition. (3) informative
This figure in below is demonstrates the operations of a profit-maximizing pure competitor into the: (1) market period. (2) short run. (3) long run. (4) super long run since this can alter technology. (5) shutdown range of production. Q : Factors establishing elasticity of 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
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
Pure economic profits are NOT: (w) normal costs of production. (x) reduced to “normal” levels in long-run pure competition. (y) zero in long run monopolistic competition. (z) possible under pure competition in the short-run.
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