--%>
Assignment Help - homework help

Why economic problems occur

Why economic problems occur?

Answer: This is due to unlimited or infinite wants and inadequate resources.

   Related Questions in Microeconomics

  • Q : Effect of average expected lifespan on

    When new medical technology raised the average expected lifespan through 10 years and people responded along with increases in their desires to have hefty “nest eggs” while they retire, it would be least probable to result into: (1) an inc

    		•
  • Q : Shutdown point of purely competitive

    A purely competitive firm will shut down while: (w) marginal costs exceed marginal revenues. (x) this cannot cover its fixed costs. (y) marginal revenue falls below average total costs (z) this can’t cover its variable costs.

    Q : Important of economies of scale to

    Karl Marx's prediction which competition ultimately leads to monopoly is most likely to be valid while: (w) diseconomies of scale discourage competition. (x) there are always constant returns to scale. (y) economies of scale are important relative to

    		•
  • Q : Implicitly weigh marginal cost and

    implicitly weigh marginal cost and marginal benefit

    		•
  • Q : Production and consumption of good of

    Production and consumption of a good is most probable to be economically inefficient in a private market system while private decisionmakers: (i) are affected by government policymakers. (ii) avoid how the activity generates benefits on non-decisionma

    		•
  • Q : Explain facing horizontal line by

    When the demand curve facing a firm is a horizontal line, then there demand is perfectly: (w) elastic at each quantity. (x) inelastic where quantity demanded is zero. (y) insensitive to the price of good. (z) unresponsive to changes within the prices

    		•
  • Q : Arc elasticity for labor of demand The

    The arc elasticity of Bosun’s demand for labor between point d and point e is roughly: (1) one. (2) 1.25. (3) 2.50. (4) 3.75. (5) 5.00.

    Q : Kinked demand curve about product price

    When an oligopolist is aware about the firm faces a kinked demand curve, this: (1) may cut price along with little expected reaction by rivals. (2) can avoid consumer demand and preferences. (3) may keep product price despite large ch

    		•
  • Q : Devaluation and depreciation of

    Distinguish among devaluation and depreciation of domestic currency

    		•
  • Q : Define opportunity cost Opportunity

    Opportunity cost: The Opportunity cost refers to the cost of next best alternative inevitable.

    		•