Applied Writing
must use graphs to demonstrate/support answers where available. Submission is to be made tonight, so needs to be finished urgently
Between the predictable results while government sets a maximum price below equilibrium are: (1) shortages. (2) queues. (3) black markets and corruption. (4) economic inefficiency. (5) All of the above. Q : Resources flowing toward industries in Resources tend to flow toward industries in the long run along with: (w) lower profits for typical firms. (x) more profit for typical firms. (y) lower payments to most resource owners. (z) more stable rates of technological change. Q : Economic concept of total costs I have 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
Resources tend to flow toward industries in the long run along with: (w) lower profits for typical firms. (x) more profit for typical firms. (y) lower payments to most resource owners. (z) more stable rates of technological change. Q : Economic concept of total costs I have 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
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
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.
For a purely competitive firm the shutdown level of output arises where is: (w) total revenue barely covers total fixed costs. (x) market price just equals the minimum of its AVC curve. (y) total revenue equals total cost as (PQ = TFC + TVC). (z) pric
Firms are under greater pressure to rapidly adopt any new cost-saving technologies when an industry is: (i) closely regulated by government. (ii) controlled by professional managers instead of owners. (iii) dominated by a vast monopoly. (iv) highly co
An increase in the supply of bonds tends to: (1) reduce the interest rate. (2) occur simultaneously with an increase in the demand for loanable funds. (3) yield an increase gross investment but a decrease in net investment. (4) drive up the prices of
The trucker who hauls fresh oranges from Florida to the New York raises the value of oranges by directly and productively changing their: (i) Time of consumption. (ii) Location or Place. (iii) Ownership or Possession. (iv) Form and substance. Q : Diminishing marginal utility and The three reasons for downward slope of a demand curve are: (1) Diminishing marginal utility, income effect and the substitution effect. (2) Scarcity, tastes & preferences, and purchasing power. (3) Opportunity costs, rational decision making and
The three reasons for downward slope of a demand curve are: (1) Diminishing marginal utility, income effect and the substitution effect. (2) Scarcity, tastes & preferences, and purchasing power. (3) Opportunity costs, rational decision making and
A monopoly tends to shut down within the short-run when: (i) price is less than the minimum of average total costs [ATC]. (ii) price cannot cover all overhead costs. (iii) variable costs are not covered. (iv) total costs exceed total revenues. (v) the
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