Define excess demand
Excess demand: If AD > AS at the full employment level. Then it is termed as Excess demand.
When this firm cannot price discriminate, after that the rate of economic inefficiency per unit of output which its exercise of market power yields equals to: (i) area 0PbQ0. (ii) distance af. (iii) area 0fcQ0. (iv) distance bc. (v) r
Economies of Scale: ‘Economies’ means benefits. The scale refers to the size of unit. ‘Economies of Scale’ refers to the cost benefits due to
The procedure of substituting complicated machinery for human labor is termed as: (1) automation. (2) bionic engineering. (3) scientific management. (4) robotics. (5) industrial sabotage. How can I solve my
When a monopolist maximizes profit and charges a price equivalent to average cost, in that case the firm: (i) is producing at the minimum point on its marginal cost curve. (ii) also charges a price equal to marginal cost. (iii) is pro
Since this demand curve for DVD games is a straight line, and its slope: (w) is constant, although the absolute value of price elasticity of demand falls as output increases. (x) varies to compensate for changes within elasticity. (y) is constant, alt
Government regulation intends at certain potentially competitive prices or transactions frequently induce private adjustments through firms and individual therefore unexpected results comprise: (w) increased rates of growth of tax revenues. (x) rapid
The graph of a demand curve which is perfectly elastic is: (1) positively sloped. (2) horizontal. (3) vertical. (4) negatively sloped. (5) a 45° diagonal line. Can someone explain/help me with
I have a problem in economics on how production increases the value of good. Please help me in the following question. The production of jewelry from valuable metals raises the value of a good by modifying its: (1) Time. (2) Possession. (3) Place. (4) Form.
Precise equality of income distribution is demonstrated by: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'. Q : Find price elasticity of demand for Suppose yearly steel sales double to 80 million tons while the price falls $40 per ton, to $180 per ton. Therefore price elasticity of demand for steel is approximately: (w) 3.333. (x) 10.000. (y) 2.500. (z) 6.667. Discover Q & A Leading Solution Library Avail More Than 1425599 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1937082 Asked 3,689 Active Tutors 1425599 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
Suppose yearly steel sales double to 80 million tons while the price falls $40 per ton, to $180 per ton. Therefore price elasticity of demand for steel is approximately: (w) 3.333. (x) 10.000. (y) 2.500. (z) 6.667. Discover Q & A Leading Solution Library Avail More Than 1425599 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1937082 Asked 3,689 Active Tutors 1425599 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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