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Technological advances have raised agricultural productivity enormously among 1800 and nowadays, and therefore, the relative incomes of family farmers declined dramatically. There hardships endured through American farm families throughout this period
All firms maximize profit by manufacturing output where is: (w) AC = MR. (x) MC = MR when maximum total revenue exceeds total variable costs. (y) MR is rising. (z) TR = TC. How can I solve my Economics
Assume that the domestic demand for television sets is explained by Q = 40,000 − 180P and that the supply is provided by Q = 20P. When televisions can be freely imported at a price of $160, then how many televisions would be generated in the domestic market? By
The concept that innovation is a main source of economic profit is central to the concepts of: (1) Joseph A. Schumpeter. (2) Karl Marx. (3) Frank Knight. (4) Horatio Alger. (5) John Bates Clark. Ca
Interest rates on specified financial instruments tend to be lower the: (1) shorter the period to maturity. (2) greater the risk of default. (3) less liquid is the asset. (4) greater the expected rate of inflation. (5) greater the face value is relati
Price discrimination is not possible when: (w) arbitrage is impossible. (x) all consumers have identical demand curves for the good. (y) firms are not price takers. (z) products are differentiated. Please choose th
Demands for alcoholic and tobacco beverages tend to be relatively price inelastic and income inelastic. There per unit “sin taxes” upon these products will share out the tax burden: (i) proportionally among high-income and
The labor union contracts, a comparable worth rule, or minimum salary laws might boost up equilibrium employment when a firm has been practicing: (v) Price discrimination. (w) Monopolistic exploitation. (x) Feather-bedding. (y) Blacklisting. (z) Monopsonistic exploita
Capital expenditure: Any expenditure which will lead to formation of an asset or reduction in liability. This is financed out of capital receipts of government. Illustrations: Expenses on construction of roads, canals, bridges, grant of loans by the c
The present value of an annual income stream which goes onto forever is: (w) infinite. (x) zero. (y) the annual income multiplied through the interest rate. (z) the annual income divided through the interest rate.
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