Risk and Uncertainty, In word of Frank Knight , risk: (w) exists when the probability of

Risk and Uncertainty

In word of Frank Knight, risk: (w) exists when the probability of any specified event can be predicted. (x) appeals to the gambler personalities of innovators who next in social progress. (y) is irrelevant to good calculates of the economic costs of production. (z) is a synonym for uncertainty.

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : Economic cost Economic cost can best be

Economic cost can best be defined as: A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B) any contractual obligation to labor or material suppliers. C) compensations that must be received by resource owners to insure their continued

Q : Managerial economics and good business

please find the attached file (project) and qoute for it. minimus 7 pages required.

Q : Income Effects-Inferior Goods I have a

I have a problem in economics on Income Effects-Inferior Goods. Please help me in the following question. When monetary prices drop and the quantity of a good your family purchases reduces as the purchasing power of your family income has risen, the good is a/an: (1)

Q : Problem on Competitive Equilibrium When

When a purely competitive firm functions in a competitive resource markets in short run then the firm: (i) Confronts an inelastic supply curve for the output. (ii) Purchases inputs till the net cost of inputs equivalents the net value of outputs. (iii

Q : Needs Standard for Income Distribution

The needs standard for income distribution would certainly involve: (w) difficulty in the measurement of productivity. (x) an enormous bureaucracy. (y) greater incentives for production than the contribution standard. (z) economic ef

Q : Natural barrier to entry in monopolizes

The Diamante Corporation is vast and owns the world’s merely red diamond mine. Thus diamante monopolizes the market for red diamonds, and this is protected by competition by a: (1) regulatory barrier to entry. (2) strategic barrier to entry. (3) natural barrier

Q : Declines in the international price

Declines within the international price of oil would be probably to cause the: (w) wages of bicycle factory workers to raise. (x) demand for automobiles to decrease. (y) incomes of geologists and petroleum engineers to fall. (z) price of home insulati

Q : Shut down point of profit maximizing

A profit maximizing competitive firm will shut down within the short run when: (w) prices do not cover average total costs. (x) this loses money on each unit of output. (y) price falls below the minimum of its AVC curve. (z) fixed costs exceed margina

Q : Monopsonistic firms-Pay lower wages I

I have a problem in economics on Monopsonistic firms-Pay lower wages. Please help me in the following question. Relative to the firms hiring in a competitive labor market, the monopsonistic firms tend to: (1) Hire more workers. (2) Hire labor up to a

Q : Determine equality of marginal revenue

Marginal revenue equals the change within total: (w) profit as output expands slightly. (x) output from hiring an additional worker. (y) revenue from selling an extra unit of output. (z) tax rates while tax revenue increases a bit.

Discover Q & A

Leading Solution Library

Avail More Than 1434153 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1921954
Asked

3,689

Active Tutors

1434153

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment