Problem on national income

Can someone help me in finding out the accurate answer from the given options. In short run, the demand for a normal good increases when: (i) Income become less uniformly distributed. (ii) The prices of complementary goods increase. (iii) National income mounts. (iv) New uses are discovered for poorer goods. (v) Supply prices for the goods refuse.

View Complete Question

Related Questions in Microeconomics

Q : Problem on amount of goods in

The Economics students are most probable to recall conceptually the different determinants of amounts of a good which people will purchase when they contemplated an acronym based on how: (i) Much they will spend out of their initial paycheck whenever

Q : Elastic Demand for Labor At existing

At existing wages the LEAST elastic demand for the labor is most likely faced by: (i) Unskilled harvest workers. (ii) Garment workers. (iii) Assembly line workers. (iv) Dentists. Can someone please help me in findi

Q : Firms supply curve in short run

Describe firm’s supply curve in short run, operating in perfect competition? Answer: It is a MC curve of the firm beginning from a point where MC = AVC (that is, minimum).

Q : Problem on Rate of Exploitation The

The difference among the value of marginal product of the labor and average wage rate will tend to be maximum when a firm: (i) Joins significant market power in output market and monopsony power in the labor market, however does not wage discriminate. (ii) Is a pure c

Q : Social purposes served by firms I have

I have a problem in economics on Social purposes served by firms. Please help me in the following question. The broad social purposes served by the firms do not comprise: (1) Coordination of team production. (2) Maximization of the stockholder gains. (3) Reduction of

Q : Oligopoly in market structure Unlike a

Unlike a monopolistically competitive firm, which an oligopoly is described by: (w) product differentiation. (x) extensive use of advertising. (y) conscious interdependence in decisionmaking by firms. (z) independence among firms.

Q : Major disadvantage of operating a

One of the main disadvantages of operating a corporation in relative to operating a sole partnership or proprietorship is that corporations tend to: (i) Offer just limited legal liability to their stockholders. (ii) Utilize specialized management pers

Q : Profit for purely competitive firms in

Profit for purely competitive firms tends in the direction of zero in the long run since: (w) managers resist charging more than a fair price. (x) firms collude to charge prices which barely cover average costs. (y) profit attracts entry, whereas loss

Q : Problem Regarding to Lorenz Curves A

A Lorenz curve is a way to demonstrate: (w) that the U.S. has perfect equality of income distribution. (x) a mirror image of a production-possibility curve. (y) the percentages of families receiving different percentages of income. (z) differences wit

Q : Monopolist in the long run Within the

Within the long run, here a monopolist: (w) will produce a positive economic profit. (x) will produce an economic profit of zero. (y) may incur an economic loss. (z) will produce an economic profit of zero or greater.

Discover Q & A

Leading Solution Library

Avail More Than 1448751 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1954381
Asked

3,689

Active Tutors

1448751

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment