Why the slope budget line downward
Describe why is the budget line slope downward?
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Since with given money income when a consumer purchases more of one good, he has to buy less of another goods.
When the firms are earning abnormal gains, how will the number of firms in industry change? Answer: The number of firms in industry will tend to rise.
A mix of heterogeneous goods and many potential buyers and sellers which are free to enter or exit the market within the long run are among essential conditions for an industry to be: (1) a monopoly. (2) purely competitive. (3) an oli
It is frequently said that a good theory is one which can in principle be refuted by an empirical, data-oriented study. Describe why a theory which cannot be evaluated empirically is not a good theory.In evaluating theory there are two steps: f
I have a problem in economics on Generating utility through production. Please help me in the following question. The production generates utility by making a good more precious in: (1) Possession. (2) Time. (3) Form. (4) Place. (5) All the above. Q : Output level at wholesale price on When the wholesale price per dozen roses is $4.50, the breakeven point for Rose Garden Wholesalers happens at an output level of about: (i) 2000 dozen roses. (ii) 2500 dozen roses. (iii) 3000 dozen roses. (iv) 3500 dozen roses. (v) 40
When the wholesale price per dozen roses is $4.50, the breakeven point for Rose Garden Wholesalers happens at an output level of about: (i) 2000 dozen roses. (ii) 2500 dozen roses. (iii) 3000 dozen roses. (iv) 3500 dozen roses. (v) 40
Monopolistic competitors generate differentiated goods which have numerous potential: (1) substitutes and important barriers to entry protecting them from potential rival producers. (2) close substitutes whose suppliers face no long run barriers to en
Markets within a capitalistic economy answer the “What?” question with: (1) government subsidies which promote new technologies. (2) giving those goods which consumers demand. (3) misleading advertising to persuade consumers to buy. (4) di
What occurs to the demand for a good whenever the price of Substitute goods downs?Answer: Whenever the price of substitute good downs, then the demand for the specified good too downs.
Refer to the given production possibilities curve and give answer of following question . At the onset of the Second World War the Soviet Union was already at full employment. Its economic adjustment from peacetime to wartime can best be described by the movemen
The Hobbit family buys 72 vegetarian specials yearly at a price of $3.00 each but would consume 192 yearly when the price dropped to $2.40. Therefore their price elasticity of demand is: (w) 4.09. (x) 2.05. (y) 6.15. (z) 0.26. Discover Q & A Leading Solution Library Avail More Than 1460029 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1945227 Asked 3,689 Active Tutors 1460029 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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