Categorizing goods into intermediate and final goods
Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.
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The Goods that are purchased by a production unit from other production units and signify for resale or for using up completely throughout similar year are termed as intermediate goods for illustration: raw material. Goods that are bought for consumption and investment are termed as final goods for illustration: Purchase of machinery for instalation in the factory.
Can someone help me in finding out the right answer from the given options. In the equilibrium for a price maker firm, the rate of monopolistic exploitation is any difference among: (i) P and MR. (ii) P and MC. (iii) VMP and MRP. (iv) Output price and rate of monopson
Elucidate the Primary functions of money. Answer: Primary functions: 1) Medium of Exc
Technological progress shift: (i) Demand curves up and to right. (ii) Production possibilities curve in the direction of their origins. (iii) Prices into inflationary spiral. (iv) Supply curves rightward from vertical axis. Can som
For a competitive industry the short-run supply curve is derived through summing the short-run supply curves of all firms within the industry: (w) vertically. (x) horizontally. (y) diagonally. (z) and computing their arithmetic average.
Of the given, the good for that demand is probable to be least price elastic is: (i) electricity used to light downtown streets. (ii) airline tickets in late December. (iii) Bic pens. (iv) chocolate milk. (v) Merit cigarettes. Q : Negative marginal utility The economic The economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Sellers experience the moral hazard. (2) Marginal returns are diminishing. (3) Marginal utility is negative. (4) Buyers suffer from adverse choice. (5) Extreme cho
The economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Sellers experience the moral hazard. (2) Marginal returns are diminishing. (3) Marginal utility is negative. (4) Buyers suffer from adverse choice. (5) Extreme cho
Profit for purely competitive firms tends in the direction of zero in the long run since: (w) managers resist charging more than a fair price. (x) firms collude to charge prices which barely cover average costs. (y) profit attracts entry, whereas loss
Consider things like yachts, tattoos, mansions, Harley-Davidsons or bling. Whenever the satisfaction derived from the good depends just weakly on an intrinsic attributes of the good and much strongly on how the good signals group membership or the status, power or soc
When an increase in demand arises at similar time as a decrease in supply, in that case equilibrium price: (w) falls, and equilibrium quantity is unsure. (x) increases, and equilibrium quantity is uncertain. (y) remai
Pure competitors produce where P is = MC since: (w) their objective is community welfare, not profit. (x) this always allows them excess profits. (y) maximum profit needs that MR = MC. (z) they can set any price they desire Discover Q & A Leading Solution Library Avail More Than 1451727 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960970 Asked 3,689 Active Tutors 1451727 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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