Question on economic cost
Select the right answer of the question. Which of the following is not an economic cost? A) wages. B) rents. C) economic profits. D) normal profits.
Precisely predicting the effect of economic prosperity upon the demand for mass transit would be excellent facilitated by a good calculates approximately of the: (w) slope of the demand curve for mass transit. (x) price elasticity of
When a firm hires workers to a point where VMP > MRP = MFC = W then: (1) There is a bilateral monopoly condition. (2) Wage discrimination is being exercised. (3) There is monopolistic exploitation of the workers. (4) The firm consists of monopsony power.
Transaction costs tend to be decreased, consumer prices tend to be lower and additionally stable and economy-wide efficiency is enhanced if: (1) rigid wage and price controls are imposed. (2) central planning fosters
For a monopsonist in the labor market, the marginal resource cost of labor is:
why demand change of onion in during one week due to change in it's price?
Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
When the interest rate is 5%, in that case the present value of a perpetuity which pays $500 each year beginning a year by today equals: (1) $500. (2) $1000. (3) $2500. (4) $5000. (5) 10,000. Can s
For this purely competitive firm, area P2P1de shows: (1) fixed cost (TFC). (2) losses, but the minimum possible economic loss. (3) average fixed cost (AFC). (4) maximum economic profits. (5) the rate of return on investment.
The market’s boundaries are stated by: (i) Legislation. (ii) The number of sellers and buyers in the market. (iii) The ease of trading among sellers and buyers. (iv) Geographical borders. Choose the right ans
Cross-elasticity of demand: The receptiveness of demand to modifications in prices of associated goods is termed as cross-elasticity of demand (i.e., associated good
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