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.
A purely competitive firm will shut down while: (w) marginal costs exceed marginal revenues. (x) this cannot cover its fixed costs. (y) marginal revenue falls below average total costs (z) this can’t cover its variable costs. Q : Production and Value The People who The People who work in financial markets are least probable to make value by being productive via alteration of the: (i) Time when the materials are accessible. (ii) Place of materials. (iii) Form of materials. (iv) Possession or ownership of the materials.
The People who work in financial markets are least probable to make value by being productive via alteration of the: (i) Time when the materials are accessible. (ii) Place of materials. (iii) Form of materials. (iv) Possession or ownership of the materials.
For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems
When each 1 percent hike in the price of pencils causes a 2 percent decline within the quantity of erasers sold, the price crosses elasticity of demand for such complementary goods is about: (1) -2.0. (2) -1.0. (3) -4.0. (4) 2.0. (5) 1.0.
This firm’s maximum possible economic profit equals: (i) $12,000 per period. (ii) $16,000 per period. (iii) $20,000 per period. (iv) $24,000 per period. (v) $28,000 per period. Q : Problem of dockworkers on hiking the pay When you were in the ski boat business, your net revenues from selling given numbers of boats would be least influenced by: (i) Govt. increasing fees for boat licenses. (ii) Rises in prices for jet skis. (iii) Pay hikes for dock-workers. (iv) Vacation
When you were in the ski boat business, your net revenues from selling given numbers of boats would be least influenced by: (i) Govt. increasing fees for boat licenses. (ii) Rises in prices for jet skis. (iii) Pay hikes for dock-workers. (iv) Vacation
I have a problem in economics on implicit costs incurred by the firm. Please help me in the following question. Each and every implicit cost incurred by the firm are: (1) Opportunity costs for the owner-supplied resources. (2) Explicit costs of each a
Decreased market demand for generic bricks would result in a(n) ___________ in the price of bricks and a(n) ___________ in this brickyard’s profit-maximizing output. (w) increase; decrease. (x) increase; increase. (y) decrease;
When all bonds are perpetuities which annually pay $1000 (the sum of one thousand and 00/100 dollars) per annum, at an interest rate of 10 percent, the price of these bonds is: (1) $4000. (2) $5000. (3) $6250. (4) $8000. (5) $10,000.<
A purely competitive firm along with no market power faces: (1) a perfectly elastic demand curve. (2) a perfectly elastic supply curve. (3) a perfectly inelastic demand curve. (4) a perfectly inelastic supply curve. (5) a downward sloping demand curve
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