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.
Can someone help me in finding out the right answer from the given options. Pam’s expectations that the costs of shoes are going to drop all through forthcoming clearance sales will lead, in the short run, to a/an: (i) Reduction in her demand for shoes. (ii) Red
The amalgamation of American Federation of Labor, representing the craft unions and the Congress of Industrial Unions, representing the industrial unions, happened in: (i) 1955. (ii) 1960. (iii) 1970. (iv) 1965. (v) 1975. Find out
Choose the right answer of the following problem. "The government deregulated the electricity industry in California and a shortage of electricity occurred soon . It is clear that the deregulation caused the shortage." This statement requires careful analysis becau
In economics illustrate normative statement?
The federal poverty rate computed by the Bureau of the Census is the: (w) ratio of poverty income to the average income. (x) number of persons below the poverty line. (y) percentage of persons below the poverty line. (z) official defi
An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation
Due to enhancement of technology, the marginal costs of televisions encompass vanished. How will it influence the supply curve of television? Answer: Supply curve w
An illustration of limit pricing strategy occurs while the incumbent firm: (w) sets a price below costs to drive its competitor out of the market. (x) redesigns its product lines to create components incompatible along with rivals. (y) which has a cos
The merely fast food restaurant conveniently located close to a fast-growing suburb may be rather profitable despite sloppy management and poor quality control. There market power can enable several firms along with excessively high production
Siberian Software vends custom programs to the multinational corporations. Its programs are coded in a remote region. In equilibrium, the Siberian’s programmers produce a marginal revenue product equivalent to around: (i) $21 per hour. (ii) $25 per hour. (iii) $
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