realtionship between MC and AVC
what happens to AVC if MC>AVC
Suppose an economy is in equilibrium condition. Its consumption function is C = 300 +0.8Y and investment is 700 find out its national income.
illustrate a firm under monopolistic competition?
Supposing that the competitive firms should seek the maximum profits to survive signifies that: (1) Firm do not make trial-and-error decisions. (2) Each and every firm always seeks the maximum gain and nothing else. (3) Competition is very profitable.
I have a problem in economics on Equilibrium for a price maker firm. Please help me in the following question. In equilibrium, for a price maker firm, the charge of monopolistic exploitation is any difference among: (1) P and MR. (2) P and MC. (3) VMP
Within this kinked demand curve model, when this firm operated at point a and increased its price from P2 to P3 but other firms did not increase their prices, in that cases equilibrium for this firm would move to be: (w) point b.
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. (
An increase in the income of consumer X leads to a fall/down in the demand for that good by the consumer. What is good X termed? Answer: Normal good
For a purely competitive industry in the long-run: (w) neither net entry nor net exit of firms will arise. (x) firms will experience significant economies of scale. (y) the typical firm’s economic profit will exceed its accounting profit. (z) th
Economists can’t conceive of any resource or product for that the: (1) price elasticity of demand is zero and the demand curve is vertical. (2) price elasticity of supply is zero and the supply curve is vertical. (3) income elasticity of demand
The only supply curve which has price elasticity which varies as the price of output increases is within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Discover Q & A Leading Solution Library Avail More Than 1437634 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1921730 Asked 3,689 Active Tutors 1437634 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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