realtionship between MC and AVC
what happens to AVC if MC>AVC
Give the answer of following question. Price exceeds marginal revenue for the pure monopolist because the: A) law of diminishing returns is inapplicable. B) demand curve is downsloping. C) monopolist produces a smaller output than would a purely competitive firm. D) d
When doubling your viewing of soap operas to sixteen hours per week causes your IQ score to reduce from a genius level of 140 to a sluggish 70, your TV elasticity of brain power is possibly: (i) -1.0. (ii) +1.0. (iii) -2.0. (iv) 2.0. (v) -0.5. Q : Market Form-price taker In which market In which market form, the firm is a price taker? Answer: In Perfect competition
When doubling your viewing of soap operas to sixteen hours per week causes your IQ score to reduce from a genius level of 140 to a sluggish 70, your TV elasticity of brain power is possibly: (i) -1.0. (ii) +1.0. (iii) -2.0. (iv) 2.0. (v) -0.5.
In which market form, the firm is a price taker? Answer: In Perfect competition
In which market form, the firm is a price taker?
Answer: In Perfect competition
Unit of Account function of money: The Unit of Account function of money is also termed as the measure of value function. Money as a unit of account signifies a standard unit for quoting the prices. This makes money a powerful medium of comparing the
Elucidate the consequence of an increase in demand of a commodity on its equilibrium quantity and price? Answer: Increase in demand causes a rightward shift in the
Elucidate the consequence of an increase in demand of a commodity on its equilibrium quantity and price?
Answer: Increase in demand causes a rightward shift in the
Describe the relationship among Average Variable Cost (AVC) Average, Total Cost (ATC) and marginal Cost (MC)? Answer: A) If MC
Describe the relationship among Average Variable Cost (AVC) Average, Total Cost (ATC) and marginal Cost (MC)?
Answer:
A) If MC
The short-run industry supply curve is found by what?
One of the main disadvantages of operating a corporation in relative to operating a sole partnership or proprietorship is that corporations tend to: (i) Offer just limited legal liability to their stockholders. (ii) Utilize specialized management pers
The quantity dinner salads demanded is 100 everyday while Café Les Gourmands charges a price of $1.80, although when price drops by $1, quantity demanded is one hundred fifty. The price elasticity of demand for dinner salads at such restaurant
If price ceiling or price floor were removed what is the impact on the economy?
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