Problem on decrease in demand for goods
For normal luxuries and goods, decreases in income tend to cause the: (i) Market prices to increase. (ii) Raises in quantities demanded. (iii) A reduction in demand for goods. (iv) Demand curves to shift to right. What is the right answer?
For normal luxuries and goods, decreases in income tend to cause the: (i) Market prices to increase. (ii) Raises in quantities demanded. (iii) A reduction in demand for goods. (iv) Demand curves to shift to right.
What is the right answer?
When this firm cannot price discriminate, after that the rate of economic inefficiency per unit of output which its exercise of market power yields equals to: (i) area 0PbQ0. (ii) distance af. (iii) area 0fcQ0. (iv) distance bc. (v) r
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
An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation
By using isoquants and isocost lines, illustrates graphically that rise in y will result in a decline in the quantity demanded of x1 and also illustrates that rise in the price of x1 will result in a reduction in the quantity demanded of x1<
The Blacklisting was once common however now illegal in the labor market practice of: (i) Boycotting the products of firms whose workers are on strike. (ii) Forcing the workers to sign agreements not to join the unions. (iii) Paying the union officers to systematize u
People who decline to buy the products of a firm whose activities they disapprove, especially whenever such rejection is intended to support the employees who are on strike, and who advise others to not purchase such products, or to not deal with these firms, are enga
I have a problem in economics on Law of equal marginal advantage to consumer behavior. Please help me in the following question. Pertaining the law of equal marginal benefits to consumer behavior outcomes the principle of: (i) Diminishing the marginal utility. (ii) Ov
A Lorenz curve is graphical device which can be utilized to portray the: (w) number of people below the poverty level. (x) conflict between high tax rates and high tax revenues. (y) relative inequalities in the distribution of a variable across a popu
Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
How the demand for one good alters while the price of an associated good is changed is measured through the: (w) relative ratios of the slopes of the respective demands and supplies. (x) price cross elasticity of demand. (y) ratios of the respective p
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