Question based on type of economy
An industry comprised of a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions is called: A) monopolistic competition. B) oligopoly. C) pure monopoly. D) pure competition.
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to supp
I have a problem in economics on how production increases the value of good. Please help me in the following question. The production of jewelry from valuable metals raises the value of a good by modifying its: (1) Time. (2) Possession. (3) Place. (4) Form.
The union goal of maximum employment would make most of the union members: (1) Happy as unemployment rates would be zero. (2) Happy since of the big union membership. (3) Unhappy as only a very low wage maximizes employment. (4) Unhappy as they don’t understand
The law of demand signifies to: (i) The direct relationship accessible between quantity and prices demanded. (ii) The inverse relationship accessible between quantity demanded and opportunity cost. (iii) How demand shifts due to modifications in price
Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.
When the resource market shown in this illustrated figure is initially within equilibrium along with demand curve D0: (w) owners of these resources currently receive no economic rents. (x) economic rent is specified by area
The burden of an excise (i.e., per unit) tax would reduce solely upon suppliers of the taxed good within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Monopolistic-Exploitation problem In In equilibrium for the price maker firm, the rate of monopolistic exploitation is the difference between: (i) P and MR. (ii) P and MC. (iii) Total revenue and net cost per unit of output. (iv) Output price and rate of monopsonistic exploitation. (v) VMP and MRP.
In equilibrium for the price maker firm, the rate of monopolistic exploitation is the difference between: (i) P and MR. (ii) P and MC. (iii) Total revenue and net cost per unit of output. (iv) Output price and rate of monopsonistic exploitation. (v) VMP and MRP.
All prospective suppliers [sellers] would be in equilibrium when this market for teleporter buttons created a price and a quantity consistent along with: (1) eliminating the shortage Q1-Q3 existing at P3. (2) any point along the demand
The economic perspective refer as: 1) macroeconomic phenomena, but not microeconomic phenomena. 2) microeconomic phenomena, but not macroeconomic phenomena. 3) the making of purposeful decisions in a context of marginal costs and marginal benefits. 4) unlimited resour
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