Define excess demand
Excess demand: If AD > AS at the full employment level. Then it is termed as Excess demand.
Balance of trade: It is the distinction between imports and exports of a country which are valued.
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
Unlike a firm within purely competitive long run equilibrium, within the long run, there a monopolistically competitive firm which does not price discriminate: (w) produces where P = MC. (y) does not price at the bott
When resource supply curves facing an industry are positively sloped, in that case the exit of firms which have incurred losses will result in: (w) higher prices and lower output for the industry, although lower average production costs for the surviv
When curve C reflects the long run supply curve as in demonstrated figure for this industry, in that case this is a/an: (w) decreasing cost industry. (x) increasing cost industry. (y) constant cost industry. (z) diseconomies of scale industry.
Price controls are intended to: (w) eliminate arbitrage and speculation. (x) stabilize prices. (y) make sure laissez-faire policies. (z) ignore shortages and surpluses. How can I solve my economics problem? Please
I have a problem in economics on Competitive Markets-Labor unions. Please help me in the following question. The purely competitive labor markets are not characterized through: (1) Most of the individual buyers and sellers of the labor services. (2) S
I have a problem in economics on Change in relative price. Please help me in the following question. The Substitution takes place all along a demand curve when there is a: (1) Rapid shortage of a required product. (2) Increase in the common price level. (3) Change in
Evalute the statement. Generally People buy clothing in the city where they live. Therefore there is a clothing market in, say, Atlanta that is distinct from the clothing market in Los Angeles. This statement is tr
All profit maximizing firms makes where marginal revenue: (w) equals marginal cost. (x) equals average variable cost. (y) includes average revenue. (z) is rising. Can anybody suggest me the proper
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