Why indifference curve is convex
Why the indifference curve is convex to origin?
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The Indifference curve is always convex to the origin due to diminishing marginal rate of substitution.
Firm A in below illustration of figure maximizes profit and is: (1) demonstrated as operating in the long run. (2) capable of reaping economic profit of P2P1de, since only in the short run. (3) incurring economic losses equivalent to fixed costs of P3
When Nostalgia Corporation maximizes profit in its production of Silver Screen DVDs, in that case its annual total costs will be around: (i) $45 million. (ii) $65 million. (iii) $85 million. (iv) $105 million. (v) $125 million. <
In this kinked demand curve model as in demonstrated, when this firm operates at point a and increases its price from P2 to P3 and its rival firms respond by increasing their prices, in that case this firm will move from point a
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Select the right ans wer of the question. Critics of minimum-wage legislation argue that it: A) keeps inefficient producers in business. B) reduces employment.C) undermines incentives to work. D) is deflationary.
Into a stable competitive economy without innovation, transaction, or uncertainty costs, all accounting profits would be: (w) pure economic profits. (x) payments required to secure owner-provided resources. (y) pure e
Producers equilibrium signifies the stage beneath which with the help of given factors of production producer attain the level of production of which he is acquiring maximum gain.
Describe the wave of mergers in the banking industry?Many economic factors have caused banking institutions to merge over the past various years. What are these factors comprise Please explain breifly...
When households become more willing to hold less cash and more stocks or bonds, in that case the: (1) level of Aggregate Demand increases. (2) present value of future income falls. (3) interest rate falls. (4) stock market will crash.
Define aggregate supply: Aggregate supply is the money value of net or total supply of services and goods available for purchase by an economy throughout a given period.
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