Why the slope budget line downward
Describe why is the budget line slope downward?
Expert
Since with given money income when a consumer purchases more of one good, he has to buy less of another goods.
See a monopolist which cannot price discriminate but that maximizes profit. When this firm produces the level of output where is average cost at its minimum that will charge a price: (i) equal to marginal cost and generate zero economic profit. (ii) e
A competitive firm shuts down within the short run when: (w) this suffers a loss. (x) normal profit = 0. (y) ATC > P. (z) the minimum AVC > P. Hello guys I want your advice. Please recommend some views for above Econo
what are the implications of law of demand to the government,household and business
Mom and Pop Ping-Pong Balls is an established table tennis supply store within a small city. You are the owner of Ping-Pong Megastore as well and you have just opened up a location in their small city. When you set prices so low which Mom and Pop is forced to shut dow
Excise taxes upon cigarettes are most effective during reducing: (1) smokers' discretionary income for other goods. (2) cigarette production. (3) cigarette companies' profits. (4) consumption of snuff and chewing tobacco. Q : Define consumption function Consumption Consumption function: The relationship among income and consumption is termed as consumption function.
Consumption function: The relationship among income and consumption is termed as consumption function.
Indifference curve: It is the combination of two goods that provides consumer similar level of satisfaction.
Central bank executes the function of a clearing house. Explain how? Answer: Each and every bank keeps cash reserves with central bank. The claims of banks against
I have a problem in economics on Economic concept of total costs. Please help me in the following question. The economic concept of total costs and the bookkeeper’s concept of net costs differ as economists: (1) Place a lower value on the psychi
When a purely competitive industry is into long run equilibrium, in that case for the typical firm: (a) P = FC = TC = MC = MR = AR = AC. (b) P = AR = MR = SRMC = SRAC = LRMC = LRAC. (c) pure economic profits reward especially effectiv
18,76,764
1947890 Asked
3,689
Active Tutors
1415269
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!