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 firm which offers its workers by substantial specific training tends to: (i) Pay such individuals premium wages to try to make sure retaining such workers. (ii) Need workers to sign the legal contracts of indenture and peonage. (iii) Raise worker productivity appr
When the firm produced at output level q2, this produced where: (w) MR = MC. (x) MR > MC. (y) MR < MC. (z) P < MC. Q : Importance of Store of Value function Importance of Store of Value function of money: People save a portion of their earnings for utilization in future. But in what form? Money fulfills this requirement of the people. Money as a store of value signifies that money is an asset and can be s
Importance of Store of Value function of money: People save a portion of their earnings for utilization in future. But in what form? Money fulfills this requirement of the people. Money as a store of value signifies that money is an asset and can be s
Please help me to solve the problem of total revenue that is given below: Total revenue can be computed by the formula as: (w) P + Q. (x) P * Q. (y) ep * P. (z) ep * Q. Hello gu
If the demand for a good is price elastic, in that case the percentage change in quantity demanded into response to a specified change within price is: (1) greater than the percentage change in price. (2) positively related to the cha
Tax: It is a compulsory payment prepared by household and firm to government.
The removal of exploitation of the labor wage payments beneath the value to society of each and every individual worker’s productive contribution is automatic when business decision makers: (i) Should set wages via collective bargaining agreements with the labor
Illustrations of price floors comprised: (1) agricultural subsidies upon, for example: corn. (2) usury laws, that are limits on the interest rates on loans. (3) utility rate structures upon natural gas or electricity. (4) rent controls in London, San
Marginal Utility: It is addition more to the net or total utility as consumption is increased by one more unit of commodity.
In the above diagram, the elimination of discrimination is best represented by:
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