Why production possibility curve is concave
Why production possibility curve is concave? Answer: This is due to increasing the marginal opportunity cost.
Why production possibility curve is concave?
Answer: This is due to increasing the marginal opportunity cost.
Changes in both demand and supply of a commodity might or might not influence its equilibrium price. Describe.
Assume that many students have fixed “pizza budgets.” When the price per slice falls by $10 to $1 along such demand curve for pizza weekly near a college campus, then the price elasticity of demand for pizza: (w) rises towards infinity. (x
When racial or personal or sex discrimination decreases worker’s mobility across the occupations: (1) Workers will be completely compensated for their opportunity costs. (2) Economic rent is more probable to be earned by such who are not discriminated against. (
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
When an individual or family lacks adequate resources to escape a state of destitution, their circumstances are described as: (1) involuntary poverty. (2) relative poverty. (3) a vicious cycle of poverty (4) institutional poverty. (5) a culture of pov
I have a problem in economics on Market Prices signals. Please help me in the following question. Market prices are the: (1) Signals among sellers and buyers. (2) Generally higher than the opportunity costs. (3) Set by the government regulations. (4)
This purely competitive firm’s demand as in given figure for labor corresponds to: (1) line segment ab. (2) line segment bd. (3) line segment be (4) line segment df. (5) line segment dg. Q : Unlimited amount at any market price A A monopoly firm which does not price discriminate does NOT: (w) have a marginal revenue curve which lies below its demand curve. (x) confront a downward-sloping demand curve. (y) have discretion over the price of its output. (z) sell
A monopoly firm which does not price discriminate does NOT: (w) have a marginal revenue curve which lies below its demand curve. (x) confront a downward-sloping demand curve. (y) have discretion over the price of its output. (z) sell
When Firm B in demonstrated graph successfully minimizes losses and maximizes its profits that have: (1) covered overhead while incurring short-run economic losses. (2) potential economic profit of Pbgh per period. (3) total costs equal to 0phq2. (4)
When the relative positions of all affects on costs and revenues are the same for all the several firms in this industry, in that case this firm is most likely operating in a: (w) differentiated oligopoly market in the short run. (x) monopolistically
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