Problem on Proprietorships
Can someone please help me in finding out the accurate answer from the following question. The most general legal form of business in United States is: (1) Sole proprietorships. (2) Partnerships. (3) Cooperatives. (4) Corporations.
The income elasticities of demand (μ) for items which most people consider as luxuries would possibly be into the range: (1) – ∞ < μ < one. (2) – 1 < μ < zero. (3) μ = zero. (4) 0 < μ < 1. (5) 1 <
Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree? Answer: Unit
When all production costs for a monopoly are fixed [MC =0], in that case economic profit: (i) falls when price is raised in the inelastic range of a demand curve. (ii) rises when price is cut in the inelastic range of
Of the given price elasticities for market supply curves or market demand curves, and the one which is absolutely inconsistent along with standard economic theory would be one for that, across feasible ranges of prices as: (i) supply
When Mad Cow Disease erupted internationally, so what would occur to the demand, price, supply and quantity of hamburgers: (w) demand = fall, price = ???, supply = fall and quantity = fall. (x) demand = fall, price = rise, supply = rise and quantity =
The procedure of transforming predictable income streams in wealth is termed as: (1) capitalization. (2) profiteering. (3) financial alchemy. (4) capitalism. (5) asset conversion. Can someone explain/help me with b
Suppose that all these demonstrated curves are infinitely long straight lines. So, a supply curve for that price elasticity of supply is constant for each possible price and quantity is: (i) supply curve S2. (ii) supply curve S3. (iii) supply curve S5
The graph of a demand curve which is perfectly elastic is: (1) positively sloped. (2) horizontal. (3) vertical. (4) negatively sloped. (5) a 45° diagonal line. Can someone explain/help me with
Can someone please help me in finding out the accurate answer from the following question. Preceding to the AFL-CIO merger in the year 1955: (i) AFL was an alliance of the industrial unions. (ii) The CIO was an alliance of the craft unions. (iii) Strikes over which un
For a competitive firm the short-run supply curve is the: (w) marginal cost curve which is above the average total cost curve. (x) marginal cost curve which is above the average variable cost curve. (y) upward sloping part of the marginal cost curve.
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