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.
Unlike the competitive employers, profit-maximizing firms with the monopsony power will: (1) Set any salary they want and hire as lots of workers as they want. (2) Make any amount and charge any price they desire for output. (3) Be expected to try to make the most of
Unlike several monopolies, a monopolistically competitive firm in long-run equilibrium produces a level of output where is: (1) price equals marginal cost. (2) pricing is economically efficient. (3) marginal revenue most greatly exceeds marginal cost.
If the government puts a rent ceiling of $650 a month, what is the rent paid and how many rooms are rented? Explain why?
When Rose Garden Wholesalers has a typical type cost structure of rose farms within this purely competitive industry, into the long run new competitors would most likely enter the market providing the wholesale price
The most probable of the following to be an inferior good for most of the American families who buy some of each of such products would be: (i) Spam, that is a canned meat product. (ii) Plastic surgery. (iii) Concert tickets. (iv) Gasoline. (v) College textbooks.
Refer to the following data. Equilibrium price will be: A) $4. B) $3. C) $2. D) $1. Give the answer of above questaion
Which of the following lists includes only capital resources (and therefore no labor or land resources)?
When Henrietta Homeowner invests $100 to replace her old mechanical thermostat along with a new computerized “smart” thermostat, in that case her gas and electric bills will be decreased by $100 yearly all times. The rate of return onto this invest
One main difference between income and wealth is which: (w) wealth is inherited, income is earned. (x) income generates wealth, wealth cannot generate income. (y) all income is subject to taxation, most wealth is not. (z) wealth is a stock variable, i
A constant elasticity demand curve as: (w) cannot be negatively sloped. (x) must be a straight line. (y) cannot be a negatively sloped straight line. (z) has a positive slope. I need a good answer on the topic of <
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