supply law and it's factors
State the Law of supply and explain the factors that affecting supply of commodity
Because resources should be hired away through other uses, the resource supply curves facing a huge and expanding competitive industry are classically: (1) horizontal. (2) U shaped. (3) upward sloping. (4) downward sloping. (5) vertical.Can anyb
In short run, the increase in supply takes place whenever the: (1) Supply curve shifts upward and to left. (2) Preferences of consumers change in a positive direction. (3) Market price raise. (4) Amounts producers make accessible rise at each and every price. (5) Publ
The curve which is so inconsistent along with standard consumer theory which is based only on the substitution result, this could not possibly be a demand curve for any standard kind of consumer good is: (1) curve D1D1. (2) curve
The time and other opportunity costs incurred in obtaining information regarding products and prices and in that case driving to and from markets are illustrations of: (1) mobilization costs. (2) contracting costs. (3) transactions co
This is possible that consumers could pay a lower price within an oligopoly market than a competitive market since large oligopolists: (w) can price below cost. (x) often give quantity discounts to loyal customers. (y
Brand name aspirin sells on higher prices than generic aspirin since: (w) higher prices mean higher quality. (x) they are chemically superior. (y) they cost more to produce. (z) advertising campaigns relate the brand name along with quality.
The Siberian Software vends custom programs to big multinationals. Its programs are coded in the remote region. In equilibrium, the Siberian faces a marginal factor cost for the programmers of roughly: (1) $21 per hour. (2) $24 per hour. (3) $12 per hour. (4) $18 per
Select right answer for Unemployment: A) causes the production possibilities curve to shift outward. B) can exist at any point on a production possibilities curve. C) is illustrated by a point outside the production possibilities curve. D) is illustra
The purely competitive model: (w) is characteristic of many actual U.S. market structures. (x) analyzes a type of economy which is now extinct. (y) is a helpful abstraction from actuality for analyzing firms’ behavior. (z) proves which modern ca
When Cling Peach Orchards has a cost structure characteristic of peach orchards into this purely competitive industry, when the long run new competitors would most likely enter the market providing the wholesale price per bushel of peaches exceeded: (
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