Purely competitive buyers and sellers in firm
Purely competitive buyers and sellers are: (w) price-takers. (x) price-makers. (y) powerless to make decisions. (z) quantity-takers. Hello guys I want your advice. Please recommend some views for above Economics problems.
Purely competitive buyers and sellers are: (w) price-takers. (x) price-makers. (y) powerless to make decisions. (z) quantity-takers.
Hello guys I want your advice. Please recommend some views for above Economics problems.
When the economy was in a complete equilibrium, in that case the distribution of income would be precisely proportional to the distribution of: (a) taxation. (b) inheritance. (c) luck. (d) wealth.
An increase in the income of consumer X leads to a fall/down in the demand for that good by the consumer. What is good X termed? Answer: Normal good
Suppose that all these illustrated curves are infinitely long straight lines. Then supply curve which is relatively (although not perfectly) price inelastic for all prices and quantities is: (1) supply curve S1. (2) supply curve S2
A purely competitive firm faces a demand curve which is: (1) perfectly inelastic. (2) upward sloping. (3) perfectly elastic. (4) a vertical line. (5) downward sloping. Can anybody suggest me the proper explanation
I have the quantity functions of demand and supply for two different goods, and I have to find the equilibrium of both the goods. Would I make all four functions equal to each other to find the equilibrium for the two goods? Or am I supposed to do something else?
The popular sporting goods magazine publishes a report on quality and safety of different brands of ski equipment. This report would be most probable to determine a problem consumer’s face since of: (i) Adverse selection. (ii) Brand-name bias. (iii) High priced
The demand curve facing a purely competitive seller is: (a) negatively sloped. (b) horizontal at the market price. (c) vertical at the market quantity. (d) the horizontal summation of all potential buyers’ individual demand curves. (e) market de
Utilitarianism states that the best society is one which gives the: (1) Essential goods to meet people’s requirements. (2) Biggest happiness for the greatest number of people. (3) Precise measurement of disutility and utility. (4) Highest guaran
Illustrations of goods which are close substitutes comprise: (i) Technology and capital. (ii) Motorcycles and helmets. (iii) Chopsticks and forks. (iv) Cowhides and beef. Find out the right answer from the above op
Relative to the equally strong, smart and hard working people with minimum education, the high school graduates who invest much heavily in more advanced formal education are probable to experience the lower average: (i) Wages whenever first enter the work force. (ii)
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