Illustrates the relatively elastic demand
Illustrates the relatively elastic demand?
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Relatively elastic demand
Now there a small change in price leads to very huge change in quantity demanded. In such case demand curve will be fatter single and ep> 1 (one).
For a profit maximizing competitive firm operating within a competitive labor market, therefore the: (w) marginal resource cost of labor is the same to the wage rate. (x) supply of labor is perfectly inelastic. (y) production quota is
Illustrates the role of cost in pricing?
Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to
Explain the important specific functions of material economics?
Define the term business forecasting briefly.
If this firm maximizes profit, this will be producing under circumstances of: (1) increasing returns to labor. (2) economies of scale. (3) diminishing returns to labor. (4) constant returns to labor. (5) adverse selection and moral hazard. Q : Most wage elastic demand for labor For For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : Value of the Marginal Product The value The value of marginal product of a variable resource is marginal physical product of it multiplied with: (w) the marginal revenue from the sale of its addition to output. (x) its cost. (y) the price of the product. (z) one.
For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : Value of the Marginal Product The value The value of marginal product of a variable resource is marginal physical product of it multiplied with: (w) the marginal revenue from the sale of its addition to output. (x) its cost. (y) the price of the product. (z) one.
The value of marginal product of a variable resource is marginal physical product of it multiplied with: (w) the marginal revenue from the sale of its addition to output. (x) its cost. (y) the price of the product. (z) one.
What are the difference between average cost and total fixed cost?
Define the pricing of a new product.
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