essay
why is marginal revenue product=marginal resource cost a formula for profit maximization?
The removal of exploitation of labor [that is, wage payments beneath the value to society of each and every individual worker’s productive contribution] is automatic when business decision makers: (1) Should set wages via collective bargaining agreements with th
As per the marginal productivity theory of income distribution, within a system of market capitalism, in that case income is distributed primarily in accord along with: (1) resource productivity and ownership. (2) how
The tax on a good tends to make: (i) Inflationary pressure the govt. can disperse by cutting its spending. (ii) The wedge among prices buyers pay and the prices sellers obtain. (iii) Rises in supply from the viewpoint of buyers. (iv) More quick transa
I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. The firm which is the sole buyer of a specific good or resource is the: (i) Monopsonist. (ii) Conglomerate. (iii) Price discriminator. (iv) P
When physically and mentally capable individuals who are born in impoverished families fail to work after they develop up but since they can rely on charity, in that case they are experiencing: (1) involuntary poverty. (2) relative poverty. (3) a vicious cycle of pove
Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
When this purely competitive firm can hire any amount of labor at pre hour wage of $9 per worker, in this given figure, as it will hire: (1) L2 workers. (2) L3 workers. (3) L4 workers. (4) L5 workers. (5) L<
A particular monopolistically competitive firm’s total revenue is probably to increase when this: (w) increases the prices of its products and consumer demand is elastic. (x) maintains its original price even if all of its compe
Elucidate how the efficiency might increase when two firms merge? Answer: If the two firms merge, their joined efficiency is expected to enhance owing to:
Rising economic profits within a competitive market do NOT produce pressures for: (i) expansions of existing firms. (ii) entry by new firms. (iii) price hikes. (iv) increases in costs for specialized resources. (v) ultimate erosion of
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