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.
What occurs to the demand for a good whenever the price of Substitute goods downs?Answer: Whenever the price of substitute good downs, then the demand for the specified good too downs.
When a collective bargaining contract comprises a ‘check-off provision’ then: (1) Union workers can be fired if they don’t meet production quotas. (2) Firms collect the union dues by deducting them from pay-checks. (3) Workers are needed to do just t
Separation of ownership or stockholders by control (management) into modern giant corporations tends to divide the economic functions of: (w) capitalists. (x) union leaders. (y) entrepreneurship. (z) bureaucrats. I
In the quintile distribution of income, the term "quintile" represents
When the price of a financial asset is of $2,000 and the interest rate is 10 percent, in that case investment is not reasonable for: (1) a perpetuity paying $200 annually. (2) an income stream paying $1000, $800, and $600, respectivel
Describe the implication of perfect knowledge regarding market beneath perfect competition.
Please provide me answer of this question. What will be the implications for consumer's preferences and her indifference curves if the axiom of transitivity does not hold?
A firm which realizes an economic profit in the short run will carry on generating economic profits in the long run only when: (i) it maximizes economic revenue. (ii) barriers to entry prevent entry from rival firms. (iii) its managers minimize princi
Marginal rate of Substitution (MRS): It is the rate at which a consumer is prepared to give up one good to get the other good.
In this demonstrated figure kinked demand curve model, when a firm at point a raises or lowers its price and the rest of the firms in the industry do similar thing, in that case the relevant demand curve for the firm is: (w) demand curve D0
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