Vigorous competition by firms in an industry

Allocating scarce resources hence they are put to the uses which best satisfy consumer wants is facilitated through: (w) highly bureaucratic, centralized decision making. (x) tax breaks for wealthy people which “trickle down” to consumers. (y) vigorous competition by several firms in an industry. (z) positive externalities and non-rivalry for public goods.

Can someone explain/help me with best solution about problem of Economics...

View Complete Question

Related Questions in Microeconomics

Q : Estimate income elasticity of demand

When Y = income, that is the income elasticity of demand is approximately measured when the value of: (i) (% change in Q) / (% change in Y). (ii) ratio of the slopes of demand relative to supply. (iii) (% change in Q) / (% change in P). (iv) constant

Q : Rent controls fix rent in equilibrium

Rent controls which fix rents below equilibrium will NOT: (w) maintain monetary rents down. (x) create shortages of rental housing. (y) stimulate non-market allocations of rental housing. (z) maintain the opportunity costs of housing down.

Q : Calculating Economic and Accounting

Can someone help me in finding out the right answer from the given options. Net sales revenue of the Rusty Key Corporation for the year 2005 is $190,000. The net explicit costs incurred were $70,000, and net implicit costs were $65,000. The accounting profit is ____ a

Q : Diseconomies of Scale Diseconomies of

Diseconomies of Scale: The diseconomies are the drawbacks occurring to a firm or a group of firms due to big scale production.Internal Diseco

Q : Competition from poor substitutes A

A firm in an industry which is a pure monopoly faces as: (w) many competitors from into the industry. (x) competition from only poor substitutes produced in other industries. (y) a market demand curve which is horizontal. (z) prosecution when it impor

Q : Prices of output and economic profit in

for a purely-competitive decreasing-cost industry in a short run equilibrium in that typical firms temporarily produce economic profits, and the average total costs a typical firm incurs are positively associated to t

Q : Determine Gini index in Loren curve

Since lifetime earning patterns differ, in that case the Gini index will: (1) continue to rise over time. (2) never reach zero or perfect equality. (3) remain constant. (4) surpass 100 in the near future. (5) be lower for developing countries than for

Q : Define Invisible items Invisible items

Invisible items: All kinds of services that are rendered to or obtained from abroad are termed as invisible items. Such are invisible as these are not made up of any matter or material. The record of such items is not obtainable with the ports. Illust

Q : Different forms of capital account

Different forms of capital account transactions: A) Private Transactions: There are transactions which affect the liabilities and assets of individuals.

Q : Amount of output supplied and price

The amount of output supplied is exactly proportional to the price therefore the price elasticity of supply equivalents one into: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Discover Q & A

Leading Solution Library

Avail More Than 1429443 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931302
Asked

3,689

Active Tutors

1429443

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment