Price taker in the context of a firm
What is meant by the word price taker in the context of a firm? Answer: It means that firm does not contain any control over the price and it has to pursue that price that is determined by industry.
What is meant by the word price taker in the context of a firm?
Answer: It means that firm does not contain any control over the price and it has to pursue that price that is determined by industry.
Price hikes for DVD games will boost total revenue providing the price is: (w) located on this demand curve. (x) above $30. (y) below $30. (z) below $25. Q : State drawbacks of barter system State State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s
State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s
Can someone help me in finding out the right answer from the given options. The Economists state that a market is cleared when the price is in such a manner that: (i) Each and every good produced is sold. (ii) Quantity and Price are equal. (iii) Surplus demand surpass
A firm’s capability to alter the price of its output due to inadequate competition or a lack of perfect substitutes for its products is an illustration of: (i) adverse selection. (ii) simple game theory. (iii) X-inefficiency. (iv) strategic behavior. (v) market
The most complementary of the given pairs of goods are: (1) organic vegetables and French fries. (2) polyester fabrics and cotton cloth. (3) transistor radios and televisions. (4) jogging shoes and bicycles. (5) pencils and erasers. Q : Increasing cost industries in long run When cranberry farming is an increasing constant cost industry and that firm is typical, in that case an increase within the market demand for cranberries will give in a long run equilibrium price as: (i) less than P1. (ii) greater than P2.
When cranberry farming is an increasing constant cost industry and that firm is typical, in that case an increase within the market demand for cranberries will give in a long run equilibrium price as: (i) less than P1. (ii) greater than P2.
If the demand for a good is price elastic, in that case the percentage change in quantity demanded into response to a specified change within price is: (1) greater than the percentage change in price. (2) positively related to the cha
Unlike a purely competitive firm, a monopolist can: (w) select a price and sell as much as this needs (x) equate marginal revenue as well as marginal cost to maximize profits. (y) produce any required amount and sell as much as this d
Legal barriers to entry do NOT comprise: (1) outright governmental prohibition of entry. (2) protection of inventions by patent. (3) licensing and bonding restrictions. (4) substantial economies of scale. (5) copyrights for music, computer software an
The group which ultimately makes investment in an economy possible is: (1) business firms. (2) households which consume less than their disposable incomes. (3) banks. (4) savings and loan associations. (5) financial tycoons. Discover Q & A Leading Solution Library Avail More Than 1448847 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1959955 Asked 3,689 Active Tutors 1448847 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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