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.
The least price elastic within supply of the given items would be: (w) Ferrari racing cars. (x) tool kits imported by China. (y) wheat. (z) original Picasso drawings. I need a good answer on the topic of Ec
‘Is the price of a product for instant consumption – similar to a takeaway curry – equivalent to its worth or advantage to a consumer?’
Greater inequality within the income distribution tends to give in greater: (1) social stability and harmony. (2) disincentives against productive efforts. (3) disparities between a Lorenz curve and a 45 degree reference line. (4) maturity of the mark
The model which examines the limits to bargaining among a powerful firm confronted by the powerful union is: (1) Bilateral monopoly model. (2) Pure monopsony model. (3) Convergence model. (4) Featherbedding model. (5) Keynesian cross model. Q : Capital Goods In the above diagram, the In the above diagram, the elimination of discrimination is best represented by
In the above diagram, the elimination of discrimination is best represented by
Open Market operation: Open Market operations term to the purchase or sale of government securities in an open market by the central bank of country.
In drawing the production possibilities curve we assume that: 1) technology is fixed. 2) unemployment exists. 3) economic resources are unlimited. 4) wants are limited.
When this firm is a typical pure competitor within this industry as in demonstrated figure, then the firm is: (i) making normal accounting profit. (ii) making zero economic profit. (iii) breaking even. (iv) into an industry within long run equilibrium
Assume that you gain $36 worth of pleasure from first hole of the golf played on any specific day since you are an avid golfer, however the extra pleasure you profit from playing succeeding holes drops by $2 per additional hole. The $40 greens fee is needed to begin o
This profit-maximizing lumber mill incurs total costs of approximately: (a) $2200 per day. (b) $3300 per day. (c) $4200 per day. (d) $5200 per day (e) $6200 per day. Discover Q & A Leading Solution Library Avail More Than 1461277 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1942702 Asked 3,689 Active Tutors 1461277 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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