Relationship between MC and ATC
What happens to ATC if MC < ATC? Answer: ATC will down or fall.
What happens to ATC if MC < ATC?
Answer: ATC will down or fall.
A barrier to entry is: (w) an impediment for firms to expand their output capacity. (x) a limit to the number of entrants to a monopolist industry. (y) an obstacle which makes this hard for new firms to enter the industry. (z) the fixed cost to a pote
Change in quantity demanded: When change in demand takes place due to price alone, it is termed as change in quantity demanded.
Price ceilings do NOT create pressures for: (w) shortages of price controlled goods. (x) black markets, queuing, or sales by favoritism. (y) opportunity costs to be lower than or else. (z) transactions at monetary prices below the equilibrium price.
Assume that a student takes out a college loan which needs 12% annual interest, however later learns that his aunt makes loans to the family members at 5% interest. The student has suffered from the problem termed as: (1) Rational ignorance. (2) Blind indifference. (3
Barriers to entry which may protect monopolistic firms through losing market power across time do not comprise: (i) legal or regulatory barriers. (ii) artificial barriers. (iii) collusive barriers. (iv) strategic barriers. (v) natural
When wage discrimination is not probable for the first 40 workers this profit-maximizing organization hires, however it can wage discriminate perfectly whenever hiring all the subsequent workers, it hires a net of: (p) Forty workers at an average salary of $700 per we
Purely competitive firms will experience economic profit, in a short-run equilibrium which is: (w) zero. (x) positive. (y) negative. (z) negative, zero, or positive are all possibilities. Hey friends please give yo
I have a problem in economics on Relation between Implicit Costs and Opportunity costs. Please help me in the following question. The Implicit costs are: (1) Opportunity costs. (2) Always variable costs. (3) Similar as the accounting costs. (4) Similar as the explicit
I have the quantity functions of demand and supply for two different goods, and I have to find the equilibrium of both the goods. Would I make all four functions equal to each other to find the equilibrium for the two goods? Or am I supposed to do something else?
The absolute value of price elasticity of demand tends to be lower when: (w) the greater the number of substitutes available. (x) the more important the product is in classical budgets. (y) for necessities than for luxury items. (z) when more time is
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