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.
Normal profit signifies zero economic profit. Explain why?
Refer to the given diagram. As it associate to production possibilities analysis, the law of increasing opportunity cost is reflected in curve:1) A 2) B 3) C 4) D Q : Determine prices by maximize total LoCalLoCarbo that is Favorite Corporation of fad dieters, which can maximize its total revenue when this produces: (1) output q2 and charges a price equal to P1. (2) output q3 and charges a price of more than P2 althou
LoCalLoCarbo that is Favorite Corporation of fad dieters, which can maximize its total revenue when this produces: (1) output q2 and charges a price equal to P1. (2) output q3 and charges a price of more than P2 althou
The economic word for payments for the utilization of capital is: (1) dividends. (2) interest. (3) profit. (4) residuals. (5) royalties. I need a good answer on the topic of Economics problems. Ple
In the quintile distribution of income, the term "quintile" represents
A soft drink bottler which finds it cost efficient and gainful to deliver the chips and other snack foods all along with cola would be experiencing: (i) Economies of scope. (ii) Positive psychic income. (iii) Economies of scale. (iv) Economies of structure. (v) Diseco
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This monopolistically competitive firm as illustrated below produces Q units and its operations are demonstrated: (w) for the market period only. (x) as imposing economic losses of dcbe in the long run. (y) as generating short-run economic profits equ
Economies of scale which are substantial relative to market demand result within the market evolving to a: (w) contestable market. (x) collusive oligopoly. (y) natural monopoly. (z) "high tech" industry. Q : Problem regarding marginal factor cost In equilibrium for any of profit-maximizing firm, marginal revenue product of the labor: (i) Is equivalent to the change in net revenue related with selling an extra unit of output. (ii) Surpasses the wage rate by maximum possible. (iii) Equivalents marginal factor co
In equilibrium for any of profit-maximizing firm, marginal revenue product of the labor: (i) Is equivalent to the change in net revenue related with selling an extra unit of output. (ii) Surpasses the wage rate by maximum possible. (iii) Equivalents marginal factor co
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