--%>
Assignment Help - homework help

Isoquants and isocost lines

By using isoquants and isocost lines, illustrates graphically that rise in y will result in a decline in the quantity demanded of x1 and also illustrates that rise in the price of x1 will result in a reduction in the quantity demanded of x1.

   Related Questions in Microeconomics

  • Q : Define the income elasticity of demand

    The income elasticity of demand is a measure of the: (w) relative responsiveness of quantity demanded to changes within income. (x) absolute change within demand yielded by an absolute change within income. (y) slope of the income-consumption curve. (

    		•
  • Q : Law of Demand in respect to relative

    I have a problem in economics on Law of Demand in respect to relative price. Please help me in the following question. The law of demand defines that as: (1) Absolute prices rise, quantity demanded raises. (2) Relative prices raise, quantity demanded

    		•
  • Q : Price ceiling If the government puts a

    If the government puts a rent ceiling of $650 a month, what is the rent paid and how many rooms are rented? Explain why?

    		•
  • Q : Example of bilateral monopoly The most

    The most excellent example of bilateral monopoly from the given list would be the condition of negotiations among: (i) U.S. Immigration Service and undocumented workers from Mexico. (ii) Fast food franchises and workers who are high-school dropouts. (

    		•
  • Q : Formula for economic profit Can someone

    Can someone please help me in finding out the precise answer from the following question. The firm’s total revenue minus its net economic costs equivalents its: (1) Economic profit. (2) Taxable income. (3) Marginal income. (4) Accounting profit. (5) Psychic inco

    		•
  • Q : Where is demand perfectly price

    For Pixie's cheesy fried grits demand is perfectly price inelastic at a price of: (w) P4. (x) P2. (y) 0. (z) None of the above.

    Q : Match price cuts but avoid price hikes

    A firm’s perception which competitors will match price cuts but avoid price hikes yields: (w) price leadership behavior. (x) limit pricing structures. (y) kinked demand curves. (z) monopolistic competition. Can anybody sugges

    		•
  • Q : Wealth distribution by income When line

    When line 0C0' shows the 2005 U.S. income distribution, in that case the line that would shows the 2005 wealth distribution would be probably line: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

  • Q : Price taker and a quantity adjuster

    When the world price for this year’s wheat crop is $10 per bushel, and Del, a profit maximizer one who owns the biggest wheat farm within North Dakota: (i) is a quantity taker and a price adjuster. (ii) cannot generate an economic profit into th

    		•
  • Q : Define Direct taxes Direct taxes :

    Direct taxes: Whenever the liability to pay tax and the burden of that tax fall on similar person, it is termed as direct tax. Illustrations are: wealth tax, income tax, corporation tax, gift tax and so on.

    		•