Features of Monopoly
Features of Monopoly: A) A Single seller B) No close replacement available. C) No freedom for entry of new firms. D) Possibility of price discrimination.
Features of Monopoly:
A) A Single seller B) No close replacement available. C) No freedom for entry of new firms. D) Possibility of price discrimination.
The cross-elasticity of demand measures as: (1) the changes in quantities sold when the price of related good changes. (2) changes within the prices of substitute goods. (3) changes within the prices of complementary goods. (4) how quantities sold cha
Meaning of deflationary Gap: This is the gap among excess of aggregate supply over the aggregate demand at complete employment level.
Producers equilibrium signifies the stage beneath which with the help of given factors of production producer attain the level of production of which he is acquiring maximum gain.
During product differentiation, the firms attempt to: (w) become price takers. (x) gain a degree of market power over their pricing and sales of their products. (y) increase the supply of their products. (z) raise the price elasticity of the demand fo
Elucidate the merits of mixed economy system?
When a firm’s total revenue potentially exceeds total variable cost for at least one output level, in that case economic losses are minimized or profit is maximized through producing where: (i) average total cos
The production possibilities frontier graphically demonstrates the: (i) Production limitations which confront the society. (ii) Benefits inherent in the capitalistic economy. (iii) Social selections available if technology is boundless. (iv) Structura
I have a problem in economics on Long Run-Firm can vary all inputs. Please help me in the following question. In long run: (1) Firm can vary all the inputs. (2) Firm can vary few inputs, however not all. (3) Capital starts to depreciate. (4) Output increases.
A firm’s wage elasticity of demand for labor is least influenced by: (1) how much time the firm has to adjust to changing wages. (2) the proportion of labor’s share of the total costs. (3) the ease of substitution in between capital
Change in demand: When change in demand takes place due to change in factor other than price, it is termed as change in demand.
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