Problem on Open Shops
Whenever a firm hires workers in spite of of whether the workers pay union dues, then this is: (i) A closed shop. (ii) A union shop. (iii) An agency shop. (iv) An open shop. (v) A scab shop. Choose the right answer from the above options.
Whenever a firm hires workers in spite of of whether the workers pay union dues, then this is: (i) A closed shop. (ii) A union shop. (iii) An agency shop. (iv) An open shop. (v) A scab shop.
Choose the right answer from the above options.
When MPC and MPS are equivalent then what is the value of multiplier? Answer: MPC = MPS = 1/2 Thus K = 1/MPS = 1/1/2 = 2/1 = 2 [that is, Multiplier K = 2].
Unlike firms within pure competition, several unregulated monopolistic firms can potentially: (w) reap long run economic profits when entry barriers prevent competition. (x) generate only normal profits in the long run. (y) sustain consistent economic
Production possibilities frontiers be inclined to concave (or bowed out) from the origin as: (1) goods differ in their capacities to gratify individual needs. (2) A land, labor and capital mix is needed for all the production. (3) People vary in their
At point b, in demonstrated figure the supply curve into this graph is: (w) perfectly elastic. (x) elastic, but not perfectly that why. (y) unitarily elastic. (z) inelastic. Q : Impact of Monopoly in welfare Discuss Discuss the impact of a monopoly on the welfare of the citizens of the country. In your discussion you should include policies that can be implemented by the government too reduce the abuse of dominant position in the market.
Discuss the impact of a monopoly on the welfare of the citizens of the country. In your discussion you should include policies that can be implemented by the government too reduce the abuse of dominant position in the market.
Vigorous competition into a market depends in the long run most strongly upon the: (w) number of buyers and sellers presently in the market. (x) freedom to enter and exit the market. (y) sizes of the average firm within the market. (z) uniformity [hom
If demand for good falls due to increase in its own price. Then what is the change in demand termed? Answer: Contraction of demand
Firms that should contemplate the potential reactions of rival firms while adjusting their pricing and output to maximize long run profit are operating within an industry which is: (1) perfectly competitive. (2) purely competitive. (3) monopolisticall
Darlene thinks as the “cowboy look” will rebound sharply subsequent spring. Then she travels to Mexico and buys ten-thousand pairs of primo cowboy boots at $35 every, and after that waits, expecting to sell them for $350 a pair in Chicago within the spring
Describe how changes in the prices of other products influence the supply of a specific product.
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