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please help me in question no 9, 4, 2
Normal 0
An increase in the income of consumer X leads to a fall/down in the demand for that good by the consumer. What is good X termed? Answer: Normal good
The firm in a perfectly competitive resource market which consists of market (monopoly) power in its output market will hire the resources to a point where: (1) w = MRP. (2) VMP = MRP. (3) w = VMP. (4) MFC = w. Can someone please h
When the quantity of scuba lessons demanded through tourists in Hawaii increases from 800 to 1,000 weekly while the price falls from $60 to $40 per session, in that case the price elasticity of tourist demands for scuba lessons is: (1
Why is demand curve is beneath oligopoly indeterminate (i.e., uncertain)? Answer: Demand curve is indeterminate since of price war among sellers.
The difference among pure competition and monopolistic competition is which: (w) monopolistic competitors generate more profit in the long run. (x) monopolistic competitors always ignore short term losses. (y) long run entry and exit is probable in pu
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
Financial intermediation is, largely, the process of: (1) lending money out at interest. (2) spending funds faster than revenues are obtained. (3) channeling funds from savers to dissavers, as well as to investors into economic capital. (4) buying and
is the price in the law of demand an absolute price or a relative price
In constant-cost, the purely competitive industries: (w) total cost is constant at every output. (x) marginal cost is constant at each output. (y) number of firms is constant at every output. (z) long-run supply price is uninfluenced by output. <
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