cost and revenue
assume the firm is a price taker and faces a market price of €60 per unit. draw the AR and MR curves
Market for goods is in equilibrium. There is an increase in demand for this good. Describe the chain of effects of this change. Elucidate with the help of diagram.
When college enrollments drop 10 % while textbook prices double, in that case textbooks and enrollments are _____ goods as well as their cross elasticity coefficient is approximately _____. (1) superior; 5.0. (2) inferior; 10.0. (3) substi
The law of supply defines that higher prices cause rise in the: (i) Demand for good. (ii) Supply of the good. (iii) Quantity supplied. (iv) Gains of investors. Can someone please help me in finding out the accurate answer from the
In between point c and d in this supply curve of 2×4s, the price elastic of supply as: (i) 1.0. (ii) 1.6. (iii) 2.2. (iv) 2.8. (v) 3.4. Q : Quantity of products in market power For a monopolist to raise the quantity of its products sold needs the monopolist to as: (i) raise the price of its product. (ii) charge a constant price. (iii) invest heavily in a distribution network. (iv) lower the price of its product. (v) advertis
For a monopolist to raise the quantity of its products sold needs the monopolist to as: (i) raise the price of its product. (ii) charge a constant price. (iii) invest heavily in a distribution network. (iv) lower the price of its product. (v) advertis
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
When both demand and supply rise within the market for cell phones, we would suppose the market price to: (w) increase. (x) decrease. (y) increase, decrease, or stay similar, depending upon the relative magnitudes of the shifts. (z) s
An income elasticity of demand for a good equivalent to two implies roughly that: (1) demand curves for the good slope upward. (2) the product is an inferior good. (3) each 1% gain in income boosts the amount sold through 2%. (4) a 20% gain in income
Fiscal deficit: When TE (RE + CE) > TR (RR + CR) of the government, excluding borrowing. It is termed as fiscal deficit.
I have a problem in economics on Marginal revenue product or MRP curve. Please help me in the given question. Demand for the labor through a monopolist in the product market is its: (w) Value of marginal product (or VMP) curve. (x) Marginal revenue product (or MRP) cu
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