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.
A Lorenz curve which is more bowed away from a 45 degree line indicates larger: (w) degrees of economic competition. (x) success for anti poverty programs. (y) equality of income. (z) inequality of income. How can
Economists suppose that nearly all decisions are made by: (i) At the margin. (ii) On the average. (iii) Based on totals. (iv) All of the above. Please someone suggest me the right answer.
This figure demonstrates a: (w) long run equilibrium for a firm in a perfectly competitive industry. (x) short run equilibrium for a natural monopoly. (y) short run circumstances for a monopolistically-competitive firm into long run equilibrium. (z) cartel which maxim
The income elasticity of demand can be approximately computed if we identify the percentage change within the: (1) quantity of a good demanded yielded by a specified absolute change in income. (2) price generated through a specified change in quantity
I have a problem in economics on fixed input in short run. Please help me in the following question. Which of the given below is most likely to be the fixed input in short run for General Motors? (i) An assembly line worker. (ii) Paint for cars. (iii)
Of the given firms, the probably to be a price taker would be a: (i) sheep herder in a remote part of New Zealand. (ii) local gas and electric company. (iii) sculptor’s agent who contacts potential buyers through the internet. (iv) small town&rs
Can someone help me in finding out the right answer from the given options. Which of the given below is not a legal form of the business in United States? (1) Partnership. (2) Corporation. (3) Limited partnership. (4) Producer cooperative. (5) All the above are
In the theory of cost and production, the long run is the period: (i) Of 1-year or longer. (ii) Of 5-years or longer. (iii) In which we all are dead. (iv) Permitting the capacity to wholly adjust. Can someone pleas
From around 1890 until 1970 year, the “structure-conduct-performance paradigm” dominated theories concerning how firms behave in various types of markets. Here the word “performance” in this context consider to things as: (i) d
A kinked demand curve for an oligopoly is probably when: (1) all the rival firms face identical demand curves. (2) rival firms are expected to match price cuts, but not price hikes. (3) firms ignore their rivals’ strategies when
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