What is change in quantity demanded
Change in quantity demanded: When change in demand takes place due to price alone, it is termed as change in quantity demanded.
The value of land is attributable to the ways exactly sites decrease transportation and other transaction costs are termed as: (1) location rents. (2) transportation rents. (3) short term quasi rents. (4) parcel posts. (5) transaction
Economists can’t conceive of any resource or product for which the: (i) Price elasticity of demand is zero (0) and the demand curve is vertical. (ii) Price elasticity of supply is zero (0) and supply curve is vertical. (iii) Income elasticity of
Describe precautions to be taken in estimating national income by expenditure technique? Answer: The following precautions are to be taken while evaluating N.I. by
When the price elasticity of demand for Japanese cars is higher within Europe than into the U.S. and transportation costs are very similar, relative to the price charged in Europe, there the price a discriminating Japanese carmaker wo
Define Ex-ante aggregate demand: This is planned or the desired aggregate demand.
Expansion of the industry in increasing cost industries causes: (w) increases in each firm’s costs at every level of output. (x) decreases in each firm’s costs at every level of output. (y) all firms to suffer long-run economic losses. (z)
a monopolist has two plants with two different cost functions.given output for one plantis given how do calculate output for the other plant?
Decreased airline bookings subsequent to some major airline crashes would point out a: (i) Reduction in the amount of airline travel demanded. (ii) Drop in the demand for air travel. (iii) Phobia among air travelers which is irrational. (iv) Horizontal demand curve fo
Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.
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