What is Budget line
Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.
Decreasing average production costs needs raising the size of a firm when the raised production encounters economies of: (i) Growth. (ii) Coordination. (iii) Growth. (iv) Scale. (v) Scope. Find out the right answer from the above o
When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.
A monopoly will make economic profits within the short run: (w) but cannot create economic profits in the long run. (x) if average total costs [ATC] > P. (y) as long as total revenue exceeds total costs. (z) All of the above.
Can GNP be more than GDP? Answer: Yes, GNP can be greater or more than GDP if NFIA is positive.
Which type of model is used by the economists to analyze competitive market?
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
Can someone please help me in finding out the accurate answer from the following question. Which of the given below is not an illustration of horizontal integration? (1) Prudential Insurance gets Metropolitan Life Insurance. (2) Daimler-Benz absorbs Chrysler. (3) McDo
Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.
What are your views about tourist’s use of natural resources?
Whenever the price of plastic moose heads increase from $5 to $7, monthly sales fall from 2000 to 1000 units. By using the arc elasticity formula, the price elasticity of demand will be: (i) 3.0. (ii) 1/3. (iii) 2.0. (iv) 2.5. Discover Q & A Leading Solution Library Avail More Than 1428925 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1949459 Asked 3,689 Active Tutors 1428925 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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