Applied Writing
must use graphs to demonstrate/support answers where available. Submission is to be made tonight, so needs to be finished urgently
The law of supply is graphically exhibited by the supply curve which is: (1) Moving all along the demand curve. (2) Vertical. (3) Upward-sloping. (4) Downward-sloping. Can someone please help me in finding out the
In the market period: (w) price is constant. (x) output is constant. (y) supply is horizontal. (z) supply is completely elastic. Please guys help to solve this problem of Economics with some explan
Economic profits within a competitive industry are signals which: (i) attract new firms into the industry. (ii) hinder innovation of new technologies. (iii) encourage inefficiency in existing firms. (iv) business conditions are deteriorating. (v) pric
When planned savings are bigger or smaller than planned investment, then what will be its consequence on inventories? Answer: It will raise or reduce the inventorie
A household utmost it’s utility by consuming a grouping of goods which exhausts income when, for each and every good, the: (i) Marginal utilities are equivalent. (ii) Prices are equivalent. (iii) Ratios of marginal utility or price are equivalen
When Ford raises pickup truck prices 20 percent and Chevy pickup sales rise 12 percent, in that case these goods are _____ as well as their cross elasticity coefficient is approximately _____. (w) complements; 0.6. (x) substitutes; 0.6. (y) subs
When a firm’s total revenue potentially exceeds total variable cost for at least one output level, in that case economic losses are minimized or profit is maximized through producing where: (i) average total cos
When the real interest rate : (w) is low, there are greater incentives to borrow and fewer incentives to lend. (x) is low, there are greater incentives to lend and fewer incentives to borrow. (y) equals the nominal interest rate + the expected rate of
Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.
When a monopolist which does not price discriminate maximizes profit and its economic profit is zero, this will charge a price: (w) equal to marginal cost and will be at the minimum average cost. (x) equal to marginal cost, but will p
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