Relation between average and marginal revenue
Describe the relation between average revenue and marginal revenue. whenever a firm can sell an extra unit or a good by lowering price.
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(i) AR and MR both decreases.(ii) MR decrease at the rate of twice than AR.(ii) MR become zero and negative but AR can never be zero.
American buyers would bear a tax burden of ____ when there was a U.S. import tariff equivalent to distance ac, while Japanese sellers would bear a tax burden equivalent to ____. (w) ab and bc. (x) bc and ab. (y) ac and zero. (z) zero and ac. Q : Decreased market demand for generic 2×4s Decreased market demand for generic 2×4s as in illustrated graph would result within a(n) ___________ into the price of 2×4s as well as a(n) ___________ in this lumber mill’s profit-maximizing output. (w) increase; decrease. (x) incr
Decreased market demand for generic 2×4s as in illustrated graph would result within a(n) ___________ into the price of 2×4s as well as a(n) ___________ in this lumber mill’s profit-maximizing output. (w) increase; decrease. (x) incr
Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.
A huge firm may cut price and earn negative profit when a new firm enters the market so as to: (w) induce the new firm to exit. (x) build a reputation for cutting price so as to deter future entry. (y) gain market control. (z) All of the above. <
When the rate of return onto an asset exceeds the interest rate: (1) its present value exceeds its price. (2) the market is moving away by equilibrium. (3) you should sell the asset as rapidly as possible. (4) economic rent is being r
The thought that, in equilibrium, the more you pay for the good, more it is worth (that is, at the margin) to you is most intimately associated to the: (1) Law of diminishing returns. (2) Equivalent satisfaction corollary. (3) Veblen effect. (4) Rising cost hypothesis
Can someone help me in finding out the right answer from the given options. The check-off provision stated as: (1) Was outlawed by Taft Hartley Act. (2) Is illegal in the union shops. (3) Simplifies the union dues collection. (4) Differentiates union shops from the ag
Assume that the War in Iraq start to engulf other Middle-Eastern countries in hostilities. The least probable outcome of gasoline prices therefore increasing to, state, $10 per gallon in the United States, would be that: (i) Hummer sales would fall as a percentage of
A particular monopolistically competitive firm’s total revenue is probably to increase when this: (w) increases the prices of its products and consumer demand is elastic. (x) maintains its original price even if all of its compe
I have a problem in economics on Craft Unions problems. Please help me in the given question. The craft unions arrange all the workers: (i) In a given industry or firm, despite of skill or craft. (ii) In a specified craft, even when they work for dist
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