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.
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Which of the given two statements involves positive economic analysis and which normative? How do the two type of analysis differ?a. Gasoline rationing (allocating to each year to each individual an annual maximum amount of gasoline whi
Difference between collusive and non-collusive oligopoly. Elucidate how oligopoly firms are interdependent in taking price and output decisions.
Explain the difference in changing the scope between a spiral approach and a waterfall approach?
Assume that all such curves in below demonstrated graph are infinitely long straight lines. The supply curve which is perfectly price-elastic is: (1) supply curve S1. (2) supply curve S2. (3) supply curve S3. (4) suppl
I have a problem in economics on Examples of pairs of complementary goods. Please help me in the following question. The illustrations of pairs of complementary goods would comprise: (1) Coffee and tea. (2) Butter and margarine. (3) Motor boats and wa
Purely competitive firms regulate to the optimum size within the long run since: (w) managers are more interested in efficiency than profit. (x) entrepreneurs want to do what is good for society. (y) entry and exit generate long-run equilibrium where
Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<
When line 0C0' shows the 1975 U.S. income distribution, in that case the 2005 income distribution would most likely be most probable: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.
Normal good: It is a good for which, other things equivalent, a rise in income leads to a rise in demand.
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