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Since the price drops/falls from $8 to 1 all along this demand curve, the price elasticity of demand for pizza: (1) increases towards infinity. (2) Drops/Falls towards zero. (3) Increases, then drop/falls. (4) Always equivalents 1 and demand is unitar
Monopolistic competitors: (1) base decisions on the anticipated reactions of their many individual competitors. (2) can easily enter but not exit industries. (3) may sometimes act like monopolists and gain economic profits in the short run because of
Economic profits are NOT recompenses to entrepreneurs who: (1) endure business uncertainty. (2) provide society along with economic capital. (3) innovate new goods and technologies. (4) exercise monopoly power or monopsony power. (5)
Can GNP be more than GDP? Answer: Yes, GNP can be greater or more than GDP if NFIA is positive.
A person’s wage income into excess of which that would be received by accepting the next best optional use of his or her talents is: (1) an economic rent. (2) a transfer payment. (3) an interest premium. (4) a salary bonus. (5) nominal wages.
Elucidate Production Possibility curve with the help of a diagram? Answer: The Production Possibility Curve refers to a curve that shows various production possibil
This given figure demonstrates as: (w) Lorenz curve. (x) familial income distribution graph. (y) Gini curve. (z) Blanc income standard curve. Q : Quality of government in income Concern regarding the quality of government is income elastic for mainly people that imply that higher incomes and prosperity tend to: (w) increase people’s participation in political processes. (x) reduce efforts to solve political problems. (y
Concern regarding the quality of government is income elastic for mainly people that imply that higher incomes and prosperity tend to: (w) increase people’s participation in political processes. (x) reduce efforts to solve political problems. (y
Relationship between MPS and multiplier:K=1/1-MPC = 1/MPS or inverse relationship between MPS and the size of multiplier.
For LoCalLoCarbo maximum profit equals the area of the rectangle as: (1) 0P1bq2. (2) bdP4P1. (3) 0P4dq2. (4) bcP3P1. (5) 0P2fq4. Discover Q & A Leading Solution Library Avail More Than 1458526 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1961684 Asked 3,689 Active Tutors 1458526 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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