Microeconomics
Question #2 Consumer Demand. How to answer questions from a-g iii. I belive the MRS is 2y/x for B. But not sure
The removal of exploitation of labor [that is, wage payments beneath the value to society of each and every individual worker’s productive contribution] is automatic when business decision makers: (v) Should set wages via collective bargaining agreements with th
When economies of scale are persistent across the range of output which people might feasibly purchase, in that case: (w) pure competition is the most efficient market structure. (x) competition will prevent monopolization of the industry. (y) competi
Maximizes total revenue by a monopolist where marginal revenue: (w) equals marginal cost. (x) is rising. (y) is zero. (z) is negative. Hey friends please give your opinion for the problem of
When a decreasing cost industry is purely competitive in that case: (1) each firm’s long-run supply curve is downward sloping. (2) each firm encounters increasing returns to scale. (3) growth of industry output yields lower per unit costs. (4) c
Additionally to monetary prices, there the costs of buying and selling comprise: (w) wage payments. (x) monopoly profits. (y) transaction costs. (z) social benefits. How can I solve my economics pr
The “kinked-demand-curve” model is an effort to model the behavior of firms within: (1) a cartel. (2) a monopoly. (3) price leadership. (4) an oligopoly. (5) a price taker market. Hello guys I want your
settlement range between management and the trade union
A monopolist which can’t price discriminate and for that variable cost is zero for all levels of output will maximize profit where is: (w) the price is the maximum any buyer is willing to pay. (x) output exhausts productive capacity. (y) marginal cost = total re
Describe the implication of perfect knowledge regarding market beneath perfect competition.
The concept that people must have income in proportion to their productivity is termed as the: (1) equality standard of distribution. (2) productivity standard of distribution. (3) needs standard of distribution. (4) utility standard
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