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what is basic objects of bretton woods?
Why the indifference curve is convex to origin?
The Explicit costs of doing the business would comprise: (i) The value of owner’s time (ii) Depreciation on the company owned truck (iii) The interest that the owner could earn when her savings were not tied up in firm. (iv) Salaries paid to the
The merely fast food restaurant conveniently located close to a fast-growing suburb may be rather profitable despite sloppy management and poor quality control. There market power can enable several firms along with excessively high production
The Production possibilities frontiers describe the concepts of: (1) A trade-off between inflation and unemployment. (2) Positive economics versus the normative economics. (3) Scarcity, opportunity costs, and reducing returns. (4) Absolute advantages
When a firm experiences economies of scale which span the bulk of demand in the market, in that case the market which this operates within will tend to: (i) evolve into a monopoly. (ii) become inefficient before this gets extremely large. (iii) seldom
New agricultural program named as the Payment-in-Kind Program is introduced by the Reagan Administration, in the year of 1983. In order to distinguish how the program performed, consider the wheat market. Had the government not given the whea
A profit maximizing competitive firm will shut down within the short run when: (w) prices do not cover average total costs. (x) this loses money on each unit of output. (y) price falls below the minimum of its AVC curve. (z) fixed costs exceed margina
The slopes of demand and supply curves are frequently: (w) misleading as guides to price elasticities. (x) independent of the units measuring changes in price and quantity. (y) highly dependent upon each other. (z) used to forecast changing consumer t
When an oligopolist is aware about the firm faces a kinked demand curve, this: (1) may cut price along with little expected reaction by rivals. (2) can avoid consumer demand and preferences. (3) may keep product price despite large ch
The idea which harsher and more certain punishment decreases cheating on examinations recommends that: (i) Normative values must guide the positive economics. (ii) Student honesty has refused in recent years. (iii) Macroeconomic reasoning as well applies to microecono
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