What drives market towards their equilibrium
What drives market towards their equilibrium?
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The behavior of sellers and buyers naturally drives markets toward their equilibrium. If the market price is above the equilibrium price, then there is an excess of the good that causes the market price to drop/fall. If the market price is beneath equilibrium price, then there is a shortage that causes the market price to increase.
Firms along with output having many perfect substitutes for potential buyers confront as: (w) perfectly price elastic for horizontal demand curves. (x) predatory pricing through more monopolistic firms. (y) price elasticity coefficients of zero. (z) s
When the demand for computer hard drives is unitarily price elastic among lower prices and current prices, lowering prices slightly will yield as: (w) higher total revenue. (x) lower total revenue. (y) no change in total revenue. (z)
In the month of January, Disney World in Florida cut its ticket prices into half and starts letting all kids beneath age five without charge. The economic forecaster might reasonably expect: (1) A decline in demand for the tickets to Disney Land in California. (2) A r
The Disadvantaged groups have historically been pressured in the direction of low wage jobs in a process termed as: (i) Occupational crowding. (ii) Labor staggering. (iii) Systemic discrimination. (iv) Reverse favoritism. (v) Nepotism. Q : Relatively inelastic supply curve in Marginal revenue is below average revenue as [TR/Q] for a firm along with market power since: (w) the demand curve this faces is negatively sloped. (x) its supply curve is relatively inelastic. (y) marginal cost is be
Marginal revenue is below average revenue as [TR/Q] for a firm along with market power since: (w) the demand curve this faces is negatively sloped. (x) its supply curve is relatively inelastic. (y) marginal cost is be
When this firm produces 5,000 units of output monthly in this demonstrated figure, in that case its total variable costs equal as: (w) $75,000 per month. (x) $15,000 per month. (y) $18,000 per month. (z) $3,000 per month. Q : Determine economic rent by annual income The philosophers in this demonstrated graph are enjoying economic rent equal to: (w) shaded area A. (x) shaded area B. (y) shaded area C. (z) the sum of the shaded areas. Q : Where is demand perfectly price For Pixie's cheesy fried grits demand is perfectly price inelastic at a price of: (w) P4. (x) P2. (y) 0. (z) None of the above. Q : Purely competitive decreasing cost When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c
The philosophers in this demonstrated graph are enjoying economic rent equal to: (w) shaded area A. (x) shaded area B. (y) shaded area C. (z) the sum of the shaded areas. Q : Where is demand perfectly price For Pixie's cheesy fried grits demand is perfectly price inelastic at a price of: (w) P4. (x) P2. (y) 0. (z) None of the above. Q : Purely competitive decreasing cost When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c
For Pixie's cheesy fried grits demand is perfectly price inelastic at a price of: (w) P4. (x) P2. (y) 0. (z) None of the above. Q : Purely competitive decreasing cost When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c
When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c
I have a problem in economics on Monopolistic Exploitation-Demand for Labor. Please help me in the following question. The monopolistic exploitation is exercised if the employment equilibrium for a firm involves: (i) MRP > MFC. (ii) Paying the work
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