Transitivity
Please provide me answer of this question. What will be the implications for consumer's preferences and her indifference curves if the axiom of transitivity does not hold?
Define aggregate demand: Aggregate demand is stated as the money value of total goods and services demanded by an economy throughout a particular period.
Product Differentiation: The Product differentitation is a condition when various producers under monopolistic competition, try to differentiate their product in terms of its size, shape, packaging, trade-mark and brand name. This is accomplish to att
Purely-competitive markets are NOT characterized through: (i) substantial barriers to entry and exit. (ii) many small potential buyers. (iii) many small potential sellers. (iv) homogeneous products. (v) zero long-run economic profits. Q : Impact of deficient demand in an economy Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
Is import of machinery recorded in capital or current account? Answer: It is recorded in current account since it deals as the purchase of goods.
Refer to the budget line illustrated in the diagram given. If the consumer's money income is $20, the: 1) prices of C and D cannot be determined.2) price of C is $2 and the price of D is $4. 3) consumer can obtain a combination of 5 units of both C and D. 4)
Whenever economic profit equivalents zero, then the accounting profits: (i) Are explicit costs of the remaining in business. (ii) Will induce raised investment even when accounting costs are much low. (iii) Are too zero. (iv) Reflect normal returns on the investment t
Assume that a firm is conscious which rival firms will adjust to counter any changes in the firm’s policies and accordingly, the firm behaves strategically while this sets prices, terms to customers or output levels. That a firm is operating in a market
Elucidate what the following statement by handel means and give an argument to either support or oppose the contention. Things might be exist independently of our accounts, however they have no human existence until the
An income elasticity of demand for mass transit of 0.6 implies that the demand for mass transit is/will: (1) a necessity. (2) a luxury. (3) rise at a slower rate than income. (4) fall when income rises. How can I s
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