--%>
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 : Negative externalities Give the answer

    Give the answer of following question. Negative externalities arise: A) when firms pay more than the opportunity cost of resources. B) when the demand curve for a product is located too far to the left. C) when firms "use" resources without being compelled to pay for

    		•
  • Q : Determine price elasticity of perfectly

    A city government trying to pass an excise tax for that the economic burden would be borne strictly through the seller will succeed when this imposes a tax on a good for that the price elasticity of: (i) demand is unitarily elastic. (

    		•
  • Q : Problem on Competition and Social

    Can someone please help me in finding out the accurate answer from the following question. The purely competitive organization in the output market which hires from a purely competitive labor market will utilize labor at the point where VMP = W since the firm: (i) Fun

    		•
  • Q : Higher value for the Gini index A

    A higher value for Gini index tends to be related with: (w) decreases in the equality of the distribution of income or wealth. (x) decreases in the population’s total amount of income or wealth  (y) reduced overall curvature of the Lorenz c

    		•
  • Q : Price elasticity of demand at

    At prevailing prices, there the price elasticity of demand for that good would be lowest: (w) Coca Cola. (x) Generic soda. (y) Water. (z) Dasani bottled water. Hey friends please give your opinion for the problem o

    		•
  • Q : Positional Goods Consider things like

    Consider things like yachts, tattoos, mansions, Harley-Davidsons or bling. Whenever the satisfaction derived from the good depends just weakly on an intrinsic attributes of the good and much strongly on how the good signals group membership or the status, power or soc

    		•
  • Q : Elimination of featherbedding Can

    Can someone help me in finding out the right answer from the given options. The labor union goals for members don’t usually comprise: (i) Higher wages. (ii) Better working conditions. (iii) Bigger fringe advantages. (iv) Elimination of feather-bedding.

    		•
  • Q : Long-run equilibrium price and output

    Long-run output and equilibrium price combinations describe a purely competitive industry’s: (w) demand curve. (x) long-run supply curve. (y) expansion path. (z) contract curve. I need a good answer on the to

    		•
  • Q : Unitarily price elastic of demand At a

    At a price for $25, the demand for DVD games is around: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) positively associated to supply.

    Q : Economically non–viable industry What

    What happened when demand and supply curve do not intersect with each other? Answer: The outcome is: Economically non–viable industry.

    		•