Define equilibrium price
Equilibrium price: The Equilibrium price refers to a price at which the market demand and market supply are equivalent.
Barriers of entry tend to be important, and main industries dominated by some huge firms while the market structure is an: (w) monopoly. (x) perfect competition. (y) oligopoly. (z) cartel. Can anybody suggest me th
At each possible output level, there a purely competitive firm’s marginal revenue curve is: (w) above its demand curve. (x) below its demand curve. (y) identical along with its demand curve. (z) steeper than its demand curve. Q : Long run equilibrium price When When Christmas tree farming is a decreasing cost industry and this firm is typical, in that case an increase in the market demand for Christmas trees will give in a long run equilibrium price: (1) greater than P1. (2) less
When Christmas tree farming is a decreasing cost industry and this firm is typical, in that case an increase in the market demand for Christmas trees will give in a long run equilibrium price: (1) greater than P1. (2) less
Why production possibility curve is concave? Answer: This is due to increasing the marginal opportunity cost.
Choosing a statistical Model: A number of problems arise in determining whether the work is truly rigorous or not. It is important to determine whether the model chosen makes theoretical and intuitive sense. <
Total revenue roughly for the profit-maximizing lumber mill equivalents: (i) $1700 daily. (ii) $2500 daily. (iii) $3500 daily. (iv) $4590 daily. (v) $6000 daily. Q : Difference between planned and actual Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<
Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<
A large negative GDP gap implies: A) an excess of imports over exports. B) a low rate of unemployment. C) a high rate of unemployment. D) a sharply rising price level.
A government decrease of the price ceiling upon a good will: (w) result in a decrease into the excess demand for the good. (x) result within an increase in the excess demand for the good. (y) lead to a greater quantity supplied. (z) cause a reduction
When all production costs for a monopoly are fixed [MC =0], in that case economic profit: (i) falls when price is raised in the inelastic range of a demand curve. (ii) rises when price is cut in the inelastic range of
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