Homework Answers
Q1. B
In command economies unlike free market decision making power is vested in the government thus making it a cenralised economy. All the powers are vested in the government .
Q2 . D
Economies of scale means that a firms saves significant costs by increasing the production levels which ultimately reduces the per unit cost of production.
Q3. C
Scarcity is the limited availability of a commodity whose demand is higher in the marrket. In case of option 3, amazon has high influx of applications thus there is no shortages of the application thus not a case of scarcity.
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Question 5 In command economies, decision-making is Select the correct answer below: O determined by the...
4) Theories aim to _____________. Select the correct answer below: a) create applied (or empirical) representations...
4) Theories aim to _____________. Select the correct answer below: a) create applied (or empirical) representations b) take a complex, real-world issue and simplify it down to its essentials c)implement a method to view the world through the same lens as other disciplines, such as anthropology and biology d)build a physical model that sits on a tabletop 5)In command economies, decision-making is ______________. Select the correct answer below: a)determined by the market b)centralized c)decentralized d)decided by familial or traditional skillsets...
Which of the following statements is accurate? Select the correct answer below: A. when the long-run...
Which of the following statements is
accurate?
Select the correct answer below:
A. when the long-run average cost (LRAC)
decreases as output increases, a firm is experiencing diseconomies
of scale.
B. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing diseconomies
of scale.
C. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing economies of
scale.
D. when the long-run average cost (LRAC)
decreases as output increases, a firm is...
THUMBS UP ? ? ? ? ? for correct answer. 17 QUESTION 13 A competitive market...
THUMBS UP ? ? ? ? ? for correct answer.
17
QUESTION 13 A competitive market economy is unlikely to provide an efficient quantity of some public goods because: the technology involved in the production of public goods makes it difficult for private firms to produce them even though, once produced, they could be marketed efficiently. Ob.only the government has the vast resources necessary to produce public goods. C. private production of public goods generally results in a large amount...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
Which of the following statements is
accurate?
Select the correct answer below:
A. when the long-run average cost (LRAC)
decreases as output increases, a firm is experiencing diseconomies
of scale.
B. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing diseconomies
of scale.
C. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing economies of
scale.
D. when the long-run average cost (LRAC)
decreases as output increases, a firm is...
THUMBS UP ? ? ? ? ? for correct answer.
17
QUESTION 13 A competitive market economy is unlikely to provide an efficient quantity of some public goods because: the technology involved in the production of public goods makes it difficult for private firms to produce them even though, once produced, they could be marketed efficiently. Ob.only the government has the vast resources necessary to produce public goods. C. private production of public goods generally results in a large amount...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
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