Production function
Describe three properties of a variable proportions production function that make sure that it allow profit maximization and cost minimization.
In which market form, the firm is a price taker? Answer: In Perfect competition
Refer to the following data. Equilibrium price will be: A) $4. B) $3. C) $2. D) $1. Give the answer of above questaion
When a monopolist which does not price discriminate produces output where is demand is unitarily elastic, in that case the firm will: (i) never be capable to maximize profit. (ii) maximize profit only when all costs are fixed. (iii) maximize profit wh
Capitalization is a process which converts: (1) natural resources into economic capital. (2) predictable income flows within wealth. (3) the opportunity cost of capital into the market interest rate. (4) financial capital into economic investment. (5)
The increase in demand for tartar sauce would be a probable result of: (1) A reduction in the price of fish. (2) An raise in the price of tartar sauce. (3) A bumper crop of the tartar sauce. (4) A raise in the price of fish. (v) The reduction in price
explain the properties of isoquants with diagram
Mainly economists object to unregulated monopoly primarily since: (w) economies of large scale operation may be attained. (x) technological advance may be fostered. (y) economic efficiency would be promoted. (z) economic efficiency may be decreased.
When consumers ultimately cannot distinguish one roasted chicken dinner from other, when roasted chicken dinners are produced within a constant cost industry, and when no barriers to entry or exit exist, in that case the long-
What will be the long-term effects of the Baby Boom?
I have a problem in economics on Law of Demand in respect to relative price. Please help me in the following question. The law of demand defines that as: (1) Absolute prices rise, quantity demanded raises. (2) Relative prices raise, quantity demanded
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