What is marginal revenue
Marginal revenue: This refers to the addition prepared to the total revenue.
Types of elasticity of supply: There are five kinds of elasticity of supply:1. Perfectly elastic supply: Q : Easily enter or exit the market in the This graph depicts a short run situation while long run equilibrium has been achieved for a firm along with some market (price-making) power when the firm cannot price discriminate and: (w) has explicit costs but no i
This graph depicts a short run situation while long run equilibrium has been achieved for a firm along with some market (price-making) power when the firm cannot price discriminate and: (w) has explicit costs but no i
Since longer time periods are considered and a bigger range of adjustments (or substitutions) become accessible, demand curves tend to become: (i) Flatter, whereas supply curves become steeper. (ii) Steeper whereas supply curves become flatter. (iii) Flatter, and ther
Government payments generally provided into European nations which are roughly sufficient to feed and clothe each child within a family are parts of programs termed as: (w) Family Allowance Plans [FAPs]. (x) negative income taxes [NITs]. (y) indigent subsidy plans [IS
Economic cost can best be defined as: A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B) any contractual obligation to labor or material suppliers. C) compensations that must be received by resource owners to insure their continued
Cost: This refers to the money expenses acquired on the production of a specified amount of commodity.
By using the production possibility frontier, revel that if a society decides to produce more capital goods associated to consumption goods in year 1, then in year 2 there will be more consumption goods.
Market for goods is in equilibrium. There is an increase in demand for this good. Describe the chain of effects of this change. Elucidate with the help of diagram.
When industry expansion or contraction does not influence the prices of resources used through its firms, then the industry tends to experience: (w) increasing costs. (x) constant costs. (y) decreasing costs. (z) diseconomies of scale. Q : Skill of dividing the labor work Whenever Janet and Bob realize that Janet is a better cook and Bob is better at cleaning the lawn, dividing such chores up according to skill is known as: (1) Gains from trade (2) Brute force allocation (3) Division of labor (4) Affirmative action. Discover Q & A Leading Solution Library Avail More Than 1453529 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923158 Asked 3,689 Active Tutors 1453529 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
Whenever Janet and Bob realize that Janet is a better cook and Bob is better at cleaning the lawn, dividing such chores up according to skill is known as: (1) Gains from trade (2) Brute force allocation (3) Division of labor (4) Affirmative action. Discover Q & A Leading Solution Library Avail More Than 1453529 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923158 Asked 3,689 Active Tutors 1453529 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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