What is production function
Production function: It is the technological relationship among input and output of a firm and is termed as production function.
When a 2% raise in the price of Kibbles causes a 1% raise in the quantity sold of Bits, in that case their price cross elasticity of demand is approximately _____ and such goods are _____. (w) -2; complements (x) 0.5; substitutes (y) 2; substitutes (z
Standard categories of economic discrimination which tend to make income less equally distributed do not comprise: (1) wage discrimination (2) employment discrimination (3) occupational discrimination (4) human capital discrimination (5) income discri
Refer to the given production possibilities curve and give answer of following question . At the onset of the Second World War the Soviet Union was already at full employment. Its economic adjustment from peacetime to wartime can best be described by the movemen
Which type of model is used by the economists to analyze competitive market?
I have a problem in economics on Problem on Asymmetric Information. Please help me in the following question. Moral hazard and adverse selection are most important in: (1) The United States. (2) Perfectly competitive markets. (3) Internet markets. (4) Markets dominate
One of my friends can't find the answer of this question. Give answer of following economic based question. Tell me about strongly separable utility function?
Hybrid Roses is the merely florist in 60 miles of Presidio, Texas. When total fixed costs (for example, rent and utilities) are $9 per hour, that profit-maximizing monopolist will charge a price of: (1) $10 per dozen roses. (2) $12 pe
Define Ex-ante aggregate demand: This is planned or the desired aggregate demand.
As per the marginal productivity theory of income distribution, within a system of market capitalism, in that case income is distributed primarily in accord along with: (1) resource productivity and ownership. (2) how
On an average, American families with more income tend to contain fewer children than families with less income. This fact recommends that, at least from a purely statistical perspective, the American children are: (1) Inferior goods. (2) Substitute goods for the cats
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