Equilibrium in a monopolized market is efficient because the monopolist always produces where marginal cost equals marginal revenue. Answer true or false: A monopolist's marginal revenue is 0 whenever the price
Can marginal utility be positive or negative but not zero? When will the 'marginal propensity to consume' change? Suppose that a 5% decrease in the price of good X causes a 2% decrease in the quantity demanded of good Y. The cross-price elasticity of demand is, therefore: O negative and...
While on average a higher LF-NPC potential is linked to positive revenue and income changes, results also point at an important variability across regions with similar LF-NPC potential. This variability relates to differences in the agricultural structure of each region, such as the crop mixture ...
In the short run, the capital stock in each sector is given. This, combined with the fall in demand for non-traded goods, makes the value of expected marginal product of capital in the non-traded sector decline. A lower marginal product of capital has two important implications: first, the...
When demand rises from D1 to D2, the equilibrium point goes from A to B and P2 is the established price. Because of the price which a firm use stays at P2, marginal revenue is equal to P2 at last 价格在一个纯净的竞争市场结构由需求决定,在盘区在右边能看。 当需求从D1上升到D2时,...
ANS: C 28. When demand is inelastic within a certain price range, then within that price range, a. an increase in price would increase total revenue because the decrease in quantity demanded is proportionately less than the increase in price. b. an increase in price would decrease total ...
Expertise in research integration and implementation is an essential but often overlooked component of tackling complex societal and environmental problems. We focus on expertise relevant to any complex problem, especially contributory expertise, divided
In Economics, private market refers to a perfectly competitive market where the equilibrium is determined through the interaction of supply and demand forces. In these markets, no government regulation exists.Answer and Explanation: The two reasons why the government in...
The last finding is worth noting: even though SSP provided little incentive to work more than 30 h/week, it increased the number of people who worked at least 40 hours/week. This may imply that demand-side and institutional constraints prevented those who took up the supplement from working ...
For a monopoly firm to increase profits it sells more in a market with high elasticity of demand and high marginal revenue, and less in a market with low elasticity of demand and low marginal revenue. They have maximized their profit when the marginal revenue in each market is equal to the...