question 2
Explain the concept of a concentration ration. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitve industry? Explain the answer
A straight-line, which positively-sloped supply curve which starts from the quantity axis is: (w) elastic for all prices and quantities. (x) inelastic for all prices and quantities. (y) unitarily elastic for all prices and quantities. (z) a sign that
The word economists employ to explain a condition where a powerful seller confronts the powerful buyer is: (1) Reciprocal exploitation. (2) Strategic bloc management. (3) Dialectical bargaining. (4) Ancillary reciprocity. (5) Bilateral monopoly. Q : Functions of price mechanism What are What are the various functions of price mechanism in a free market economy?
What are the various functions of price mechanism in a free market economy?
If a firm attempts to drive rivals from its market and after that raises prices and adopts a strategy to deter entry, this is exhibiting: (w) grim strategy. (x) tit-for-tat strategy. (y) predatory behavior. (z) Nash equilibrium. Q : Constant cost industry with no barriers When consumers eventually cannot distinguish one roasted chicken dinner from other, while roasted chicken dinners are produced into a constant cost industry, and when no barriers to entry or exit exist, so this firm’s lo
When consumers eventually cannot distinguish one roasted chicken dinner from other, while roasted chicken dinners are produced into a constant cost industry, and when no barriers to entry or exit exist, so this firm’s lo
The price elasticity of demand for Robot Butlers includes the greatest absolute value at an exact price of: (i) $20,000. (ii) $16,000. (iii) $12,000. (iv) $8,000. (v) $4,000. Q : Problem relating to Exploitation I have I have a problem in economics on Problem concerning Exploitation. Please help me in the given question. Whenever resource suppliers are salaried less than the values of their marginal products [or VMPs], then they are stated to be: (p) Monopsonistic. (q) Monopolistic.
I have a problem in economics on Problem concerning Exploitation. Please help me in the given question. Whenever resource suppliers are salaried less than the values of their marginal products [or VMPs], then they are stated to be: (p) Monopsonistic. (q) Monopolistic.
Surplus budget: When receipts of government are greater than its receipts, it is termed as surplus budget.
Economic losses produce competitive pressures which decrease the industries: (w) output and number of firms. (x) prices and profits. (y) percentage mark-ups over costs. (z) long term labor turnover. I need a good a
Define Marginal Cost and also its functions?
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