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.
The Realto Theatre purchased a new projector costing $37,000 on January 1, 2010. Since of changing technologies, the projector is predictable to last five years after which it will be obsolete and contain a salvage value of $1,000 as a collectors item. Compute the
When 900 tons of gourmet coffee beans are sold per month at $5.40 per pound but sales drop to 500 tons while its price rises to $7.20 per pound, the price elasticity of demand for that coffee based upon the mid-point or say arc formula is: (i) 2.0. (i
Elucidate the central problems of an economy: A) What to produce? B) How to produce? C) For whom to produce? Answer: Q : Good theory It is frequently said that It is frequently said that a good theory is one which can in principle be refuted by an empirical, data-oriented study. Describe why a theory which cannot be evaluated empirically is not a good theory.In evaluating theory there are two steps: f
It is frequently said that a good theory is one which can in principle be refuted by an empirical, data-oriented study. Describe why a theory which cannot be evaluated empirically is not a good theory.In evaluating theory there are two steps: f
All prospective demanders [buyers] would be within 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<
Direct taxes: Whenever the liability to pay tax and the burden of that tax fall on similar person, it is termed as direct tax. Illustrations are: wealth tax, income tax, corporation tax, gift tax and so on.
Profit is maximized when this brickyard manufactures an output level of: (1) 6,000 generic bricks daily. (2) 7,000 generic bricks daily. (3) 15,000 generic bricks daily. (4) 17,000 generic bricks daily. (5) 20,000 generic bricks daily. Q : Twenty-one amendment of public polices Drive-by shootings by that several groups of beer or liquor distributors or producer attempted to liquidate rival groups largely finished while the: (w) U.S. Constitution was ratified and Whiskey Rebellion which began into 1794 finally finished. (x) 21st amendment to
Drive-by shootings by that several groups of beer or liquor distributors or producer attempted to liquidate rival groups largely finished while the: (w) U.S. Constitution was ratified and Whiskey Rebellion which began into 1794 finally finished. (x) 21st amendment to
(a) Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker’s work is +0.4. Compare the impact on pre-recorded music compact disks and the cabinet maker’s work of a recession that reduces consumer incomes by 10 per c
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