long run supply
Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.
Elucidate the components of capital account? Answer: It records are international transactions which occupy a resident of the domestic country changing his assets wi
Which of the given curves have constant price elasticities: (1) A vertical demand curve [when one ever exists]. (2) A horizontal curve which is a demand curve which is identical with a horizontal supply curve. (3) A demand curve which is a rectangular
How is TVC derived from MC? Answer: TVC = Sigma MC
If an individual receives benefits from the government, associate to the benefits everyone else receives, which exceed the individual’s taxes like a proportion of total tax payments by all citizens, which individual can reasonably be viewed like
In a vague world, people are supposed to maximize their satisfaction through: (1) Finding in advance the mixture of goods which maximizes utility and then purchasing this mixture. (2) The procedure of trial and error. (3) Taking marginal decisions till disutility stop
Can someone help me in finding out the right answer from the given options. The experience that your very first kiss with a latest crush was more thrilling and satisfying than your 10th kiss 35 minutes later is an illustration of the: (i) Familiarity principle. (ii) N
Purely competitive markets and monopolistically competitive markets have in general: (1) the collusive tendencies of large rival firms. (2) extensive negotiations about prices among buyers and sellers. (3) freedom of entry and exit wi
This capital market is within this illustrated figure a closed private economy. The first plans of savers and investors are demonstrated as curves S0 and I0. There market equilibrium will exist at: (1) point a. (2) point b. (3) point
Producer’s Equilibrium: A producer (or a firm) is said to be in equilibrium whenever it earns maximum gains. Profit maximization of a firm signifies maximizing the difference between total cost and total revenue. Whenever the gains of the firm a
When consumer demand for this industry’s product is relatively inelastic, in that case the curve reflecting normal substitution although the least price elasticity of market demand would be of: (i) curve A. (ii) curve B. (iii) curve C. (iv) curv
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