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.
The marginal utility [that is, additional jollies derived from the final unit consumed] of each and every of the specific goods you purchase regularly is probably most intimately correlated with each and every good’s: (1) Consumer surplus. (2) Market price. (3)
A firm operating along with a lot of competitors but that still has some control over price is a: (i) pure quantity adjuster. (ii) member of an oligopoly. (iii) purely competitive firm. (iv) firm with some market power. (v) cartel.
Constant price elasticity equivalent to one for socket sets would be mainly plausible for demand curve as: (1) D1D1. (2) D2D2. (3) D3D3. (4) D4D4. (5) D
When this purely-competitive firm makes output level Q, this is operating within the: (i) technological long run. (ii) long run. (iii) short run. (iv) shut down period. (v) boom period of the business cycle.
Types of Surveys: Surveys can be classified by their method of data collection. Mail, telephone, and in-person interview surveys are the most common. Extracting data from samples of records is also frequently done.
Economic theories: A) are useless because they are not based on laboratory experimentation. B) that are true for individual economic units are never true for the economy as a whole. C) are generalizations based on a careful observation of facts. D) are abstractions an
When the price of plastic moose heads increases from $25 to $35 and monthly sales drop by 2000 units to 1000 units, by using the arc elasticity formula, in that case their price elasticity of demand equals: (w) 1/3. (x) 3.0. (y) 2.0.
In 1700s what currency was employed?
When LoCalLoCarbo, the favorite corporation of fad dieters,in that case produces output q* [that where is marginal revenue is zero] as: (1) LoCalLoCarbo’s total revenue is at its highest possible level. (2) expanding output to q4 would cause tot
Wal-Mart business practices have been criticized like destroying small town America. Therefore argument is that Wal-Mart will build a new store and firstly set prices so low that they ultimately drive off all rival businesses. As per its foes, after their rivals move
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