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.
This exercise inspects why ‘greywater’ dumped from cruise ships can be vision as an economic difficulty and the complexities of dealing with this.
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
At point c, in illustrated figure the supply curve into this graph is: (w) perfectly price elastic. (x) relatively price elastic. (y) unitarily price elastic. (z) relatively inelastic. Q : Labor Unions and Employment The labor The labor union will not enhance its members' job viewpoints by: (1) Raising worker productivity through apprenticeship. (2) Limiting entry through quotas or high initiation fees. (3) Lobbying for the tariffs on competing the foreign goods. (4) Collectively bargaining
The labor union will not enhance its members' job viewpoints by: (1) Raising worker productivity through apprenticeship. (2) Limiting entry through quotas or high initiation fees. (3) Lobbying for the tariffs on competing the foreign goods. (4) Collectively bargaining
Why is economics seen like a social science?
Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be
When Del’s production function and costs are characteristic for wheat farmers and when wheat farming is a constant cost industry, in that case in the long run, there the price of wheat will be: (i) $4 per bushel. (ii) $6 per bushel. (iii) $8 per
The interest rate will most likely rise when: (1) households decide to delay consumption, causing the loanable funds accessible for business investments to raise. (2) investors become more optimistic into relation with the profitability of investment.
Complements: The two goods for which a rise in the price of one good leads to a reduction in the demand for other.
For a purely competitive industry in the long run: (i) several firms exit hence others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all resources are fixed for the industry as an entire. (iv) pe
18,76,764
1943617 Asked
3,689
Active Tutors
1433828
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!