realtionship between MC and AVC
what happens to AVC if MC>AVC
When a 10% hike in the price of paisley socks causes sales to fall with 20%, the demand for such socks is: (1) perfectly inelastic. (2) relatively inelastic. (3) unitarily elastic. (4) relatively elastic. (5) perfectly elastic. <
When the world price for wheat is $10 per bushel; and Del, who one owns the biggest wheat farm into North Dakota, will: (w) face a demand curve that is perfectly price elastic at $10 per bushel. (x) realize $4 per bushel in long-run economic profits.
Jana chugs 5 big cups of Gatorade in five minutes after winning the marathon. Jana’s marginal utility is much likely to be: (1) Equivalent for each cup as she was very thirsty. (2) Maximized at 3 cups, when she is reaching the equilibrium. (3) Diminishing whenev
Sustained rates of economic development which exceeded population growth rates would: (w) raise the incomes of the poor without reducing anybody else’s income. (x) raise the incomes of everyone in society. (y) boost the incomes of the poor only
I have a problem in economics on Problem on Current labor union issues. Please help me in the following question. The current labor union issues would comprise: (i) Public sentiment favoring the legislative control of strike powers. (ii) Reduction of
The law of demand defines that, all as well constant, consumers will obtain: (i) More of a good, the lower its opportunity cost. (ii) Less of any good, higher the prices of its substitutes. (iii) Advertised goods more often than generic products. (iv) Greater luxuries
No firm can ever generate a pure economic profit unless this: (i) possesses some market power or monopoly power. (ii) can adjust both its level of output and the price of its products. (iii) faces a demand curve with a segment above its average total
The ABC industry in UK had poor sales in the summer of 2007. This practice explores why, employing economic analysis. It considers how the forces in the direction of an equilibrium price might affect a firm.
Assume that the demand for jeans rises. At similar time, since of an increase in price of cotton, the supply of jeans reduces. How will it influence the price and amount sold of jeans? Q : Increase in demand for Normal Goods Zelda’s purchases of bigger and more cubic zirconium rings since she got a big pay raise are an illustration of a/an: (i) Raise in demand. (ii) Raise in quantity demanded. (iii) Raise in supply. (iv) Deterioration of the tastes. Discover Q & A Leading Solution Library Avail More Than 1461467 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1935635 Asked 3,689 Active Tutors 1461467 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
Zelda’s purchases of bigger and more cubic zirconium rings since she got a big pay raise are an illustration of a/an: (i) Raise in demand. (ii) Raise in quantity demanded. (iii) Raise in supply. (iv) Deterioration of the tastes. Discover Q & A Leading Solution Library Avail More Than 1461467 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1935635 Asked 3,689 Active Tutors 1461467 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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