What is Complements
Complements: The two goods for which a rise in the price of one good leads to a reduction in the demand for other.
Elucidate the Secondary or Subsidiary function? Answer: 1) Standard of deferred payments: Money is executing as deferred Payment
A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro
A monopolist produces where marginal revenue [MR] equals marginal costs [MC] when it needs to maximize: (i) total revenue. (ii) consumer surplus. (iii) profits. (iv) total revenue, producer surplus and profits. (v) job security.
Participants in this market would experience a surplus in this market for teleporter buttons: (1) at all possible price per button exceeding P2. (2) equal to distance cd when the price per button equals P1. (3) when this market was primarily in e
When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.
Long-run supply curve of a purely competitive industry has a slope which is: (w) negative to offset the positive slope of each firm’s short-run supply. (x) positive to reflect the positive slope of each firm’s short-run supply. (y) depende
Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Q : Define Economics Briefly describe the Briefly describe the term economics?
Briefly describe the term economics?
The theory of production and cost supposes that the firms seek to maximize the: (i) Society's economic welfare. (ii) Their own gains. (iii) Sales revenues. (iv) Gross National Product. (v) National income. Find out
The firm from the given list with relatively the most market power would probably be: (w) General Motors. (x) the world's biggest wheat farm. (y) a gas station in Wayout, Wyoming that has no competitors into 70 miles. (z) the BestBuy in Durham, North
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