Lowest possible price in transaction Costs
Is the assertion such that "Everyone all the time buys everything at the lowest possible price" right? Have you paid more than you had to for any good yet, after permitting for all transaction costs?
Expert
No and yes, correspondingly. (Students will suggest the following sorts of illustrations that are refuted here.)
Illustration: After a search I purchased a Toro lawnmower of $450. The after that day similar mower was on sale for $375. So, did I pay too much? At the instance you made the purchase the response was no. You had determined that prospective monetary savings from additional search would have exceeded the expected transaction costs acquired; this was cheapest at $450. Illustration: I can make popcorn at much lower monetary cost than its price into a theater. Refutation The cost of popcorn should be lower in the theater for those who buy this than would be the cost of going home to make this, and into the process, missing the movie.
When will a rise in demand entail an increase in the quantity demanded however no change in the price?
Several market structures may pivot around goods which are heterogeneous, however the only market structure that absolutely needs goods to be differentiated within the minds of consumers of: (1) perfect competition. (2) pure competition. (3) monopolistic competition.
When racial or personal or sex discrimination decreases worker’s mobility across the occupations: (1) Workers will be completely compensated for their opportunity costs. (2) Economic rent is more probable to be earned by such who are not discriminated against. (
The three reasons for downward slope of a demand curve are: (1) Diminishing marginal utility, income effect and the substitution effect. (2) Scarcity, tastes & preferences, and purchasing power. (3) Opportunity costs, rational decision making and
Can GNP be more than GDP? Answer: Yes, GNP can be greater or more than GDP if NFIA is positive.
A minimum wage law does NOT make pressures which tend to: (1) benefit high wage workers. (2) cause unemployment among unskilled workers. (3) uniformly help poor workers. (4) increase teenage unemployment. (5) foster discrimination. Q : Rate of return onto investment When the When the rate of return on investment equals the interest rate, in that case investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible. Hey friends please give your opin
When the rate of return on investment equals the interest rate, in that case investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible. Hey friends please give your opin
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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
What does AFC curve appear like? Why does it appear so?
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