supply law and it's factors
State the Law of supply and explain the factors that affecting supply of commodity
If a change in the supply of a good results within a percentage change into quantity demanded which exceeds within absolute value the percentage change within price, in that case demand is relatively: (i) price elastic. (ii) inferior. (iii) normal. (i
Legal barriers to entry do NOT comprise: (1) outright governmental prohibition of entry. (2) protection of inventions by patent. (3) licensing and bonding restrictions. (4) substantial economies of scale. (5) copyrights for music, computer software an
Price elasticity of demand for a good will tend to rise as the: (i) Number of reasonably good replacements available rises. (ii) Consumer income level rises. (iii) Good is a less significant budget item. (iv) Time permitted for response reduces. (v) Elasticity of supp
When a demand curve is a negatively-sloped straight line, in that case demand is perfectly: (w) elastic where quantity demanded is zero. (x) elastic where price is zero. (y) inelastic where quantity demanded is zero. (z) elastic or inelastic all over
The price elasticity of supply approximately measures the ratio of relative as: (w) profit to the amounts firms supply at different prices. (x) price increase necessary to induce a firm to raise output. (y) change within the quantity supplied to a rel
This given figure demonstrates as: (w) Lorenz curve. (x) familial income distribution graph. (y) Gini curve. (z) Blanc income standard curve. Q : Monetary price and Transaction Costs You are more probable to shop at a remote farmer’s market at a lower monetary price instead of purchasing apples at a higher monetary price at the local grocery store if: (i) Possible, as production is cheaper at the farmer’s market. (ii) You want to purch
You are more probable to shop at a remote farmer’s market at a lower monetary price instead of purchasing apples at a higher monetary price at the local grocery store if: (i) Possible, as production is cheaper at the farmer’s market. (ii) You want to purch
Innovating new technologies and products when bearing risks and uncertainty is amongst the roles played by: (1) bureaucrats. (2) entrepreneurs. (3) monopolists. (4) politicians. (5) inventors. How can I solve my Economics <
By using the production possibility frontier, revel that if a society decides to produce more capital goods associated to consumption goods in year 1, then in year 2 there will be more consumption goods.
I have a problem in economics on Problem concerning Exploitation. Please help me in the given question. Whenever resource suppliers are salaried less than the values of their marginal products [or VMPs], then they are stated to be: (i) Monopsonistic.
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