Total fixed cost
Total fixed cost: 1. Fixed cost remains constant at each level of output ie it do not change with change in quantity.2. It can not be zero when output is zero.3. Its curve is parallel to X-aixs4. Example :- Rent, wages of permanent staff.
Total fixed cost:
1. Fixed cost remains constant at each level of output ie it do not change with change in quantity.2. It can not be zero when output is zero.3. Its curve is parallel to X-aixs4. Example :- Rent, wages of permanent staff.
Income is distributed before taxes and transfers in the United States such as, in 2003 year, the lowest quintile [20%] earned around: (w) 4% of all income and the highest quintile earned over half of all income. (x) 5% as much as the highest quintile.
Federal agricultural subsidies tend to be rapidly: (w) spent because most farmers lack sufficient budgeting skills. (x) capitalized in higher prices for farm land. (y) slashed while pressure mounts to cut the federal deficit. (z) absorbed from rising
The model of collective bargaining designed by the John Hicks graphically resolves for the level of: (i) Wage rate and length of strike. (ii) Fringe advantages and safety cases on the job. (iii) Wage rates and union dues. (iv) Union control over the w
When cost structures and market demands were identical for each of the given types of firms, in that case the structure-conduct-performance paradigm would predict the greatest profits for: (1) pure monopolist. (2) price-discriminating monopolist. (3)
The value of services and commodities is frequently decomposed into value in: (1) Dollars and value in Euros. (2) Absolute value and prices in relative prices. (3) House-holds and value in organizations. (4) Utilization and value in exchange.
Liz admitted a pay cut in May and consequently start cooking at home more and dining out less frequently. Her adjustments provide illustrations of the: (i) Substitution effect. (ii) Income elasticity of the demands for various goods. (iii) Law of diminishing marginal
When two goods have negative price cross elasticities of demand, in that case the goods are: (1) inferior goods. (2) luxury goods. (3) complementary goods: (4) substitute goods. (5) normal goods. Hey friends please
If comparing monopolistic competition to pure competition within the long run: (w) product differentiation definitely improves social welfare. (x) only monopolistic competitors may earn economic profits. (y) only pure competitors oper
When the market interest rate exceeds the rate of return you compute on an asset: (i) competition for profit must make its price rise quickly. (ii) its present value is less than its price. (iii) the market is in long term equilibrium
Economists generally use the word “competition” to refer to: (w) negotiations among buyers and sellers. (x) a type of market structure in that competitors are price takers and, occasionally, to rivalrous processes among firms. (y) how pric
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