What are the features of phases of business cycle
What are the features of phases of business cycle?
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A phase of business cycle consists of following term as in given below:
Boom: It is also termed as prosperity phase.
Recession: When the economy reaches the peak- then the course changes.
Depression: Both underemployment men and material is the characteristics of such phase.
Recovery: The depression phase on it’s during then given method to recovery.
When, for a perfectly competitive firm that price exceeds the marginal cost of production then the firm must: w) raise its output. x) reduce its output. Y) keep output constant and enjoy the above normal profit. z) lower the price.
answer written below is correct for the question detail exception of demand curve ?
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