--%>

Reflecting normal substitution by market demand curve

When consumer demand for this industry’s product is relatively inelastic, in that case the curve reflecting normal substitution although the least price elasticity of market demand would be of: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E.

1785_purely competitive industry.png

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : In-Kind Transfer Payments Medicare,

    Medicare, rent subsidies, Medicaid, and food stamps are examples of: (w) transfers in-kind. (x) cash transfers. (y) human capital programs. (z) negative income taxes. Can anybody suggest me the proper explanation for given problem

  • Q : Total variable cost By refering the

    By refering the following data give the answer of this question . The total variable cost of producing 5 units is: A) $61. B) $48.  C) $37. D) $24. </span

  • Q : NO profit-maximizing firm in long run

    In the long run no profit-maximizing firm would produce yet a level of output at that: (w) marginal revenue is below the price charged consumers. (x) demand is relatively price inelastic. (y) total revenue would exceed total variable costs but not tot

  • Q : Elimination of discrimination In the

    In the following diagram, the elimination of discrimination is best depicted by: 1) a move from C to E. 2) an inward shift of the production possibilities curve. 3) a move from A to D. 4) a move from E to C.

    Q : Labor Unions and Employment job

    The labor union will not get better its member’s job prospects through: (i) Raising the worker productivity through apprenticeship. (ii) Restricting entry through quotas or high initiation fees. (iii) Lobbying for the tariffs on competing foreign goods. (iv) Col

  • Q : Concentration ratio Explain the concept

    Explain the concept of a concentration ratio.  Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry

  • Q : Standard of Income Distribution

    According to the requirements standard of income distribution: (w) marginal productivity is easily measured. (x) people’s needs are proportional to their marginal products. (y) income must be distributed in proportion to people’s needs. (z

  • Q : Minimum Wage Laws-unskilled workers I

    I have a problem in economics on Minimum Wage Laws-unskilled workers. Please help me in the following question. The Minimum wage legislation is unlikely to help: (i) Skilled workers who compete by unskilled workers. (ii) Unskilled workers who don&rsqu

  • Q : Morphological attribute After the

    After the morula phase what is the subsequent stage? What is the morphological attribute which defines this phase?

  • Q : Floating exchange rates Provide

    Provide solution of this question. In saying that the present system of floating exchange rates is managed we mean that: A) countries which allow their exchange rate to move freely will lose their borrowing privileges with the IMF.  B) the value of any IMF member