Supply curve
The short-run industry supply curve is found by what?
A price ceiling set below equilibrium will raise the: (w) quantity supplied. (x) good’s opportunity cost to buyers. (y) sellers’ profits. (z) rate of excess supply. How can I solve my economics
The demand for an exact good tends to be relatively more price elastic when the good: (1) has various close substitutes and very little complements. (2) is taken as a necessity in place of a luxury. (3) is an inferior good. (4) is rel
Monopolistically competitive and purely competitive industries tend to be described by: (i) important economies of scale in production. (ii) many potential buyers and sellers. (iii) horizontal demand curves facing each firm. (iv) conscious interdepend
Difference between increase in demand and increase in quantity: Whenever demand rises at specific price then it is termed as rise in demand?. On another hand, whenever demand increases by decrease in price of a com
Invisible items: All kinds of services that are rendered to or obtained from abroad are termed as invisible items. Such are invisible as these are not made up of any matter or material. The record of such items is not obtainable with the ports. Illust
The simple circular flow model illustrates that: A) households are on the buying side of both product and resource markets. B) businesses are on the selling side of both product and resource markets. C) households are on the selling side of the resource market and on
Persistent shortages of a good are mostly all the time attributable to: (w) legal ceiling prices that are set below equilibrium. (x) recessions that yield high unemployment rates. (y) price gouging by firms with monopoly power. (z) legal price floors
Opponents of contribution standard for income distribution, the: (w) prefer a more efficient mechanism to distribute income. (x) accept marginal productivity theory. (y) question how well the market system measures productivity. (z) generally favor de
Within the long run, after HoloIMAGine’s holographic technology patents lapsed moreover entry and exit became probable in this market, therefore HoloIMAGine would be expected to: (w) carry on to reap economic profits. (x) break even and experien
The monopsonist will hire labor till the labor's marginal resource cost equivalents the: (1) Marginal revenue product of the labor. (2) Marginal physical product. (3) Value of average product of the labor. (4) Price of the labor. C
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