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.
must use graphs to demonstrate/support answers where available. Submission is to be made tonight, so needs to be finished urgently
The economy consists of a single buyer and a single seller. The buyer has the utility function b ln xB1 + xB2 with b ≤ 10. The seller has the
Is import of machinery recorded in capital or current account? Answer: It is recorded in current account since it deals as the purchase of goods.
Shortages take place whenever the market price: (1) Most greatly surpasses the average person’s demand price. (2) Is above the usual seller’s supply price. (3) Equivalents production costs plus the maximum possible gain. (4) Lies beneath t
Production function: It is the technological relationship among input and output of a firm and is termed as production function.
This profit-maximizing, as in demonstrated graph, of brickyard’s total variable costs are about: (i) $200 per day. (ii) $600 per day. (iii) $750 per day. (iv) $900 per day. (v) $1200 per day.
I have a problem in economics on Quantity demanded vary inversely. Please help me in the following question. The law of demand defines that price and: (1) Quantity demanded differ directly. (2) Quantity demanded differs inversely. (3) Demand differs d
Can someone please help me in finding out the accurate answer from the following question. The paradox of the value (also termed as the diamond-water paradox) occurs from: (1) High transaction costs. (2) Low transaction costs. (3) Failures to differentiate among the m
An illustration of prices signalling desirable reallocations would happen while rising product demand leads to rising: (w) levels of investment during the economy. (x) employment of resources producing such good. (y) shifts of resources within other outputs. (z) quick
All transaction costs would be zero when: (1) Congress required current prices to be cut by eighteen percent. (2) market information and transportation were both costless. (3) market prices were legally restricted to production costs. (4) inflation we
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