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please help me in question no 9, 4, 2
I have a problem in economics on Income related to positive demand. Please help me in the following question. The goods for which the demands are positively related to income are termed as: (i) Normal goods. (ii) Inferior goods. (iii) Substitute neces
In the monopsonistic labor market in which wage discrimination is not possible, the raise in the minimum wage: (i) Essentially outcomes in less employment and higher wages. (ii) Might result in both the higher level of employment and the higher wage rate. (iii) Unifor
When this purely competitive industry is described by moderately increasing costs, in that case line C would represent: (w) the demand curve facing the entire industry as a whole. (x) market-period supply. (y) long-run market supply. (z) short-run sup
Contestable markets and purely competitive markets are related in that both: (w) consist of large numbers of firms. (x) consist of firms who are price takers. (y) are characterized by easy entry. (z) are characterized by large economies of scale.
Total fixed cost: 1. Fixed cost remains constant at each level of output ie it do not change with change in quantity.2. It can not be zero when output is zero.3. Its curve is parallel to X-aixs4.
The economic system which depends associatively the least for its effectiveness and overall success on honesty and of members of economically and socially most elite groups in the system are nearly certainly: (1) Oligarchintegrity and hum
Total variable cost:1. variable cost changes with the change in quantity. It increase or decrease as the output change.2. it is zero when output is zero3. Its curve is parallel to the curve of total cost.4. Example :- cost of r
This is socially undesirable for a monopolist to produce where the price exceeds to marginal social cost [P > MSC] since: (w) resources are allocated inefficiently since too small is produced. (x) too many resources are used and production is exces
Placing an excise tax upon goods along with low-income elasticities of demand will share out the tax burden as: (1) proportionally between high-income and low-income households. (2) disproportionately on high-income households. (3) disproportionately
A huge firm may cut price and earn negative profit when a new firm enters the market so as to: (w) induce the new firm to exit. (x) build a reputation for cutting price so as to deter future entry. (y) gain market control. (z) All of the above. <
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