Applied Writing
must use graphs to demonstrate/support answers where available. Submission is to be made tonight, so needs to be finished urgently
What happens to equilibrium price if increase in demand is equivalent to increase in supply? Answer: In case of equivalent increase in demand and supply the equilib
What takes place to equilibrium of a commodity when there is a decrease in its demand and increase in its supply? Answer: The equilibrium price will reduce.
When a change in the supply of a good causes a percentage change within price which exceeds in absolute value the resulting percentage change within quantity demanded, then demand is relatively: (1) price elastic. (2) inferior. (3) no
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
In calculating the GDP national income accountants
Into the long run, interest rates depend LEAST upon the: (1) premiums needed to induce savers to delay consumption. (2) premiums necessary to induce wealth holders to sacrifice liquidity. (3) productivity of new capital. (4) demands and supplies of lo
The Diamante Corporation is vast and owns the world’s merely red diamond mine. Thus diamante monopolizes the market for red diamonds, and this is protected by competition by a: (1) regulatory barrier to entry. (2) strategic barrier to entry. (3) natural barrier
Types of market in economy: There are two kinds of market in this economy: Factor market-for Factors of Production and Product market-for goods and Services.
The demand curve facing an unregulated non-discriminating monopolist is NOT: (w) similar as the industry's demand curve. (x) downward sloping. (y) more elastic than the demand curve facing a competitive firm. (z) various from its marg
Refer to the following diagrams, in which AD1 and AS1 are the "before" curves and AD2 and AS2 are the "after" curves. Other things equal, a decrease in resource prices is depicted by:1) panel (A) only. 2) panel (B) only. 3)
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