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.
The firm has $70,000 in implicit costs, and the economic profit of $40,000. This firm’s: (i) Explicit cost equivalent $30,000. (ii) Accounting profits equivalent $110,000. (iii) Normal gain equivalents $40,000. (iv) Explicit costs equivalent $110,000.
The economic foundations of the single-tax progress were first presented through: (1) British Prime Minister Lloyd George. (2) John Stuart Mill. (3) Henry George. (4) David Ricardo. (5) George Stigler. How can I so
This capital market is within a closed private economy. Primary plans of savers and investors are demonstrated as curves S0 and I0. There Market equilibrium will exist at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point
A surplus of papayas would involve when: (1) government set a price ceiling of P1. (2) growers expected prices to soar. (3) hurricanes vanished all Central American papaya plantations. (4) government imposed a price floor of P2. (5) seller's supp
The greatest percentage rate of return would be generated through a financial investment which yielded: (w) annual income = $1,000; current price = $10,000. (x) monthly income = $100; current price = $24,000. (y) annual income = $1,200; current price = $10,800. (z) an
The market value of an asset or potential investment project is most specific to rise when typical investors expect: (w) after-tax rates of return by investing to exceed the interest rate applicable for assets or investments along wit
Some researchers have attempted to define poverty: (1) as the lowest 20% of the income distribution. (2) through estimates of the fundamental needs for families having various characteristics. (3) by estimating the costs of the minimum caloric intake
When the price of thermal underwear is increased from $12 to $18 per pair, because of the quantity of cross country snow skis to decline by 1,200 to 800 pairs annual, such goods are ____ and the price cross elasticity of demand equiva
If MPP is zero, what can you state regarding TPP? Answer: TPP is at its maximum.
Choose the right answer from following. Population growth remains high in most DVCs because: A) religious and sociocultural considerations favor large families. B) children may provide economic security for aging parents. C) children provide agricultural labor in rura
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