Output
From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?
The demands of prosperous American families are most likely most income elastic for their: (i) vacations in Hawaii. (ii) higher education. (iii) cell phones. (iv) fast food meals. (v) gasoline. Ple
Price elasticity of demand: The Price elasticity of demand refers to the degree of responsiveness of the quantity demanded to modifications in price. Ed = (ΔQ/Δ P) x (P/Q)
Illustrate any three causes of decrease in demand? Answer: 1) Reduce in income of consumer. 2) Fall in the price of alternate good.3) Increase in the price of complementary goods.
As MRP < VMP in imperfect competition if firms have market power as sellers: (1) MPPL = VMP. (2) The price of output surpasses MFC. (3) Monopolistic exploitation becomes essential to attain gain. (4) Imperfect competition can’t reach the equi
The below table presents the three possible states for stocks A and B returns. (a) De
Why Features of monopolistic competition is monopolist in nature? Answer: (a) Control over price (b) Downward sloping demand curve
What is that market termed in which there are just two sellers (or firms)? Answer: Duopoly terms to a market condition in which there are only two sellers.
When Info-Gadget and Inc. offers only 333 thousand generic potato peelers monthly at $1 each as well as 1,667 thousand at $2 each, its price elasticity of supply is around: (1) 1.0. (2) 1.5. (3) 2.0. (4) 3.0. (5) 0.5. Q : Price Rigidity Price Rigidity: The Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo
Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo
The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co
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