estimation demand
exceptional demand curve
When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Q : Illustrates the term Demand Function Illustrates the term Demand Function?
Illustrates the term Demand Function?
What did professor Marshall illustrates about Law of Demand? Answer: According to Marshall “the amount demanded raises along with reduces in price and diminish
Economists suppose that firms hire labor to further a fundamental goal of maximizing: (1) economic profit. (2) workers’ welfare. (3) economy-wide employment. (4) managerial compensation. (5) the total value of output.
Concavity (or bowed-out shapes) in production possibilities frontiers is described least fine by: (i) The law of diminishing returns. (ii) Resources being unevenly suited for various forms of production. (iii) Rising opportunity costs. (iv) Non-neutra
When the substitution effect of a higher wage rate is more powerful than the income effect, in that case the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases as income rises. (3) human capital eff
When comparing these labor supplies, which are clear by the income effect of a modification in wage rates is: (w) negative for Morgan and positive for Chandra. (x) less powerful than substitution effect for both of such workers. (y) positive for Morgan and negative fo
In an entirely employed food-and-clothing economy, continual equivalent reductions in food output generally will make it: (1) Essential to decrease clothing output uniformly. (2) Probable to generate successively bigger increases in clothing output. (
demand has three essentials-damand+purchasing power+.???
Government policy is probably to help raise the total supply of human capital within the long run through: (w) increased public education and retraining programs. (x) minimum wage legislation. (y) laws prohibiting discrimination in employment. (z) str
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