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.
The needs standard for income distribution would certainly involve: (w) difficulty in the measurement of productivity. (x) an enormous bureaucracy. (y) greater incentives for production than the contribution standard. (z) economic ef
Equity of fairness is an ambiguous idea, in part since people’s personal qualities can vary greatly. Conversely, that policymakers should treat people equally when they are roughly identical in the characteristics thought relevant for government policies is exte
When the resource market demonstrated in this figure is into equilibrium: (1) owners of these resources currently receive no economic rents. (2) economic rent is specified from trapezoid Oade. (3) the rectangle Obde measures consumer surplus by the fi
Surveyors sometimes cannot arrange a probabilistic sample and instead rely on a variety of non-probabilistic techniques, each which poses potential problems. Surveyors could: target a quota of a certain type of res
Can someone help me in finding out the right answer from the given options. One of the advantages of a partnership over proprietorship is: (i) In a partnership just one partner is liable for the debt. (ii) Partnerships permit for more specialization in the management.
When the price of a financial asset is $1,000 and the interest rate is 10 percent, in that case investment is not justified for: (1) a perpetuity paying $100 annually. (2) an income stream paying $500, $400, and $300, respectively, at the ends of all
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.
High economic profits for firms are least probable to arise by: (1) important market power. (2) “cut-throat” competitive pricing policies. (3) superior products. (4) unusually efficient managers. (5) price-maker behavior. Q : Market Price in intervention Let’s take Let’s take a perfectly competitive market in which the market demand curve is provided by Qd = 20 − 2Pd and the market supply curve is provided by Qs = 2Ps. a) Determine the e
Let’s take a perfectly competitive market in which the market demand curve is provided by Qd = 20 − 2Pd and the market supply curve is provided by Qs = 2Ps. a) Determine the e
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
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