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   Related Questions in Microeconomics

  • Q : Equality between marginal revenue and

    A profit-maximizing monopolist which does not price discriminate and that faces a demand curve that is higher at some output levels than is the firm’s average variable cost curve finds out price and quantity where: (w) profit pe

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  • Q : Long run adjustments in industry

    Associate to short-run supply curves, in long-run industry supply curves tend to be additionally: (i) vertical. (ii) positively-sloped. (iii) profitable. (iv) income inelastic. (v) price elastic. C

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  • Q : Define demand with market supply and

    When technological advances boost market supply and total revenue both within an industry, in that case: (w) demand is relatively price elastic. (x) the industry is dominated by a monopoly. (y) patenting technological advances ensures

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  • Q : Long-Run Adjustments Since longer time

    Since longer time periods are considered and a bigger range of adjustments (or substitutions) become accessible, demand curves tend to become: (i) Flatter, whereas supply curves become steeper. (ii) Steeper whereas supply curves become flatter. (iii) Flatter, and ther

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  • Q : Variation in supply and demand curves

    These supply and demand curves for housing do NOT involve that the: (w) demand for housing has increased. (x) supply has increased, because rental price has risen. (y) equilibrium price and quantity of housing have increased. (z) housing market will c

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  • Q : National Income in Equality Standard As

    As per the equality standard of income distribution: (w) people should be paid according to their needs for income. (x) income should be distributed to resource owners. (y) justice requires national income to be divided equally. (z) people should be p

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  • Q : Occurrence of nominal price lower then

    When the nominal price of apples at a remote orchard is fewer than at a local grocery store, in that case you are more probable to buy at the orchard when: (w) at all possible, because produce is invariably cheaper at the orchard. (x) you desire to bu

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  • Q : Comparative statics and consumer demand

    Explain the methodological procedure called comparative statics.  What does this procedure imply regarding the nature of the consumer demand curve?

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  • Q : Lowest price in shopping for expected

    Consumers shop for the lowest price probable for a good only till the expected benefits of shopping no longer go beyond the expected: (w) maximum legal prices for the good. (x) prices available in the black market. (y) transaction costs related with a

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  • Q : Negative externalities in production

    Production which generates negative externalities: (w) would lead to underproduction and overpricing of goods. (x) increases producers’ costs of production. (y) increases consumers cost of purchasing the good. (z) would cause the market price of

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