--%>
Assignment Help - homework help

Cut in prices of Complementary Goods

The demand for gasoline would rise rapidly after a fifty percent: (i) Drop in the price of crude oil. (ii) Discovery of main latest oil supplies. (iii) Cut in public transportation fares. (iv) Cut in latest car prices.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Monopolies over brand name products of

    Several firms have monopolies over brand name products, although face competition from: (w) international cartels. (x) oligopolistic rivals. (y) producers of close substitutes for their products. (z) intra-firm rivalry.

    Q : Efficiency of monopolistic competition

    Defenders of the efficiency of monopolistic competition are mainly persuasive when they insist which: (w) consumers benefit greatly from product differentiation. (x) any inefficiency is far less harmful than that of pure monopoly. (y) pure competition

    		•
  • Q : Means of monopolistic competition

    Select the right answer of the question. Monopolistic competition means: 1) a market situation where competition is based entirely on product differentiation and advertising. 2) a large number of firms producing a standardized or homogeneous product. 3) many firms pro

    		•
  • Q : Supply curves toward right from

    Technological progress shift: (i) Demand curves up and to right. (ii) Production possibilities curve in the direction of their origins. (iii) Prices into inflationary spiral. (iv) Supply curves rightward from vertical axis. Can som

    		•
  • Q : Bond of fixed annual income A bond

    A bond which pays a fixed annual income always is: (w) an eternity. (x) a perpetuity. (y) worthless. (z) infinitely valuable. Can anybody suggest me the proper explanation for given problem regarding Econom

    		•
  • Q : Strategic Barriers to Entry The

    The successful employment of expensive marketing techniques through established competitors in an oligopoly: (w) encourages entry by other profit maximizing firms. (x) raises the minimum efficient scale of production for new entrants. (y) acts as a re

    		•
  • Q : Problem regarding Subjective Prices

    Mike trades 6 vintage baseball cards for the Jake’s original Ty Cobb card. When Mike’s six cards had equivalent total market value with Jake’s Ty Cobb card, then this trade would show: (i) Unfair incentive. (ii) Demand price. (iii) Opportunity cost.

    		•
  • Q : Social welfare function What do you

    What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.

    		•
  • Q : Labor Unions-Secondary Boycotts

    Whenever a firm consists of a collective bargaining agreement with its employees and unionized employees reject to handle the goods generated by other firms if the workers for other firms are on strike, then the unionized employees are engaged in the: (1) Secondary bo

    		•
  • Q : Experiencing the economies of Scale Let

    Let assume that an auto manufacturer which can produce 10 cars at an average cost of $8000 per car. When the manufacturer enlarges output to 100 cars, then the average cost of production falls to $5000 per car. This firm is experiencing the: (1) Raised demand. (2) Eco

    		•