What is production function
Production function: It is the technological relationship among input and output of a firm and is termed as production function.
Price cross elasticity of demand measures the responsiveness of: (1) quantity of a good sold to changes within its price. (2) quantity sold to changes within income. (3) price of one good to changes within the sales of other. (4) amount demanded of on
Tacit collusion through oligopolists is possible when: (w) agreed to by the government. (x) a price leader is visible. (y) the oligopolists succeed in forming a cartel. (z) very few firms control the market. How ca
In the above diagram, the elimination of discrimination is best represented by:
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.
Choose the right answer from following. How many members the Board of Governors of the Federal Reserve has ? A) 5 B) 7 C) 9 D) 14
Demand schedule: This is a tabular symbolization of different quantities demanded at various levels of prices.
Is the study of cotton textile business a macroeconomic or a microeconomic study? Answer: The study of cotton textile business is a microeconomic study.
Compared to other relatively prosperous developed nations, the United States: (w) has greater inequality in the distribution of its wealth and national income. (x) enjoys the lowest cost medical care and the best average public health. (y) has been the most aggressive
The computer hard disk manufacturer can make a decision how many people to hire and how many supplies to purchase however can’t change the size of factory. This organization is: (1) Operating in short run. (2) Operating in long run. (3) Vertically integrated. (4
Which cost might there if output is zero? Answer: Fixed cost
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