absolute and relative price
is the price in the law of demand an absolute price or a relative price
Babble-On maintains world-wide patents for software which translates any of three-hundred-thirteen spoken languages within text, along with automatic audio and text translations within any of the other three-hundred-thirteen languages. Babble-On's profit-maxim
A purely competitive firm will produce where is: (w) MC is rising. (x) MC = P. (y) MC = MR. (z) All of the above. Can anybody suggest me the proper explanation for given problem regarding Economics
Suppose an excise tax is imposed on product X. We would expect this tax to: A) increase the demand for complementary good Y and decrease the demand for substitute product Z. B) decrease the demand for complementary good Y and increase the demand for substitute product
Opponents of contribution standard for income distribution, the: (w) prefer a more efficient mechanism to distribute income. (x) accept marginal productivity theory. (y) question how well the market system measures productivity. (z) generally favor de
When a 2% raise in the price of Kibbles causes a 1% raise in the quantity sold of Bits, in that case their price cross elasticity of demand is approximately _____ and such goods are _____. (w) -2; complements (x) 0.5; substitutes (y) 2; substitutes (z
When wage discrimination is not likely for the first 40 workers this profit-maximizing firm hires, however it can wage discriminate absolutely whenever hiring all the subsequent workers, it hires a net of: (1) 40 workers at average wage of $700 per week per worker. (2
An illustration of distribution of income in accord along with the contribution standard occurs while: (1) the federal government relies on a very progressive income tax for most of its revenue. (2) production is produced, “from each, according
All firms will shut down when the average expected revenue by selling output fails to exceed expected: (w) average total cost. (x) marginal cost. (y) average fixed cost. (z) average variable costs. I need a good an
The time period of union strikes and the equilibrium wage rate at conclusion of the strike are focus at: (i) Dept. of Labor’s Collective Bargaining Arbitration Division. (ii) Collective bargaining model made by Sir John Hicks. (iii) Bilateral monopoly model.(iv)
The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co
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