long run supply
Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.
A monopolist who does not price discriminate, that is: (w) cannot maximize profit by producing where demand is unitarily elastic. (x) will maximize profit where demand is unitarily elastic when all costs are fixed. (y) will maximize profit where deman
In 2005 year, the proportion of American sub-populations along with family incomes below the official poverty line was maximum for individuals: (1) 0 to 10 years old. (2) 11 to 25 years old. (3) 26 to 45 years old. (4) 46 to 65 years old. (5) more tha
Line T0 depicts a tax system which is: (1) progressive. (2) recessive. (3) proportional. (4) biased. (5) regressive. Q : Define factor market Factor market : It Factor market: It comprises of factors of production namely land, labor, capital and associations.
Factor market: It comprises of factors of production namely land, labor, capital and associations.
Name the System of Note-issue in India. Answer: In India, the system of note-issue is the Minimum Reserve System. The RBI is needed to keep minimum reserves of Rs 2
Types of measurement in Metrics: A) Nominal: a nominal scale assigns items to a category. For example, the category may be a simple "yes" or "no." In the case of a family, a nominal scale
Most of the economic models suppose that the financial goal of a corporation is the maximization of the value of: (1) Firm’s net revenue. (2) Accounting gains to the firm. (3) Firm to its shareholders. (4) Progress of the sales revenues. (5) Monetary advantages
The model which examines the limits to bargaining among a powerful firm confronted by the powerful union is: (1) Bilateral monopoly model. (2) Pure monopsony model. (3) Convergence model. (4) Featherbedding model. (5) Keynesian cross model. Q : Surviving firms in declining When firms exit a declining competitive industry, in that case surviving firms will: (i) reduce their outputs and prices. (ii) experience higher prices and profits. (iii) automate to adjust to lower wages. (iv) sell more output at lower prices. <
When firms exit a declining competitive industry, in that case surviving firms will: (i) reduce their outputs and prices. (ii) experience higher prices and profits. (iii) automate to adjust to lower wages. (iv) sell more output at lower prices. <
Points exterior to economy’s production possibilities curve exhibit combinations of goods which: (i) Can’t be produced with the economy’s present capacity. (ii) Employ resources proficiently in production. (iii) Don’t utilize t
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