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.
Normal 0 false false
Technological advances have raised agricultural productivity enormously among 1800 and nowadays, and therefore, the relative incomes of family farmers declined dramatically. There hardships endured through American farm families throughout this period
To compute the market demand for air-filled mattresses, add up the: (i) Amounts demanded at each and every price. (ii) Amounts supplied at each and every price. (iii) Demand prices at each and every quantity. (iv) Supply prices at each and every quant
The Department of the Census defines high relative income as experienced while families: (w) earn more than $60,000 annually per worker in the family. (x) have income which is twice the median incomes of other American families. (y) e
When a monopolistic competitor is earning zero economic profit, in that case this: (1) sells at a price equal to average total cost. (2) sells at a price equal to marginal cost. (3) is at the minimum point on its average total cost cu
Refer to the given table. If the economy is producing at production alternative C, the opportunity cost of the tenth unit of consumer goods will be:
Of the given price elasticities [ed] for market demand curves, there the one which is absolutely implausible by the vantage of standard economic theory would be one for that, across all conceivable ranges of prices: (1) ed= 0 and the
Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<
What are the causes for diminishing returns to factor? Answer: 1) Over utilization of
For a profit-maximizing pure competitor in the short-run equilibrium: (w) P = MC = MR. (x) MC = minimum AC. (y) MR > P. (z) only normal profits will be earned. Hey friends please give your opini
18,76,764
1933490 Asked
3,689
Active Tutors
1453415
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!