In the market for a network good, the private demand curve lies to the right of the social demand curve.
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Question 8 (1 point)
The easier it is to substitute capital for labor, the more elastic is the demand for labor.
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Question 9 (1 point)
The demand for labor that arises from consumer demand for the firm's product and the productivity of labor is called:
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Question 10 (1 point)
In an agency shop, workers benefit from the presence of a union even if they are nonmembers.
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The simplest means of acquiring financial capital, other than self-financing, is to issue stock shares.
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Question 17 (1 point)
Firms must be guaranteed never to fail in order to achieve efficiency and innovation.
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The formula used in the rate of return approach to determine whether an investment is worthwhile is the same formula used in the present value approach.
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Question 20 (1 point)
The investment decisions made by firms involve comparing total costs with total benefits for each capital input.
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7)
Answer: False statement.
Net goods have positive externalities, so social demand curve is located right of private good demand curve.
8)
Answer: True statement.
Demand for labor will be elastic, since if wage rate is increased, producer can easily increase the quantity of capital. Easy substitutability makes demand more elastic.
9)
Answer: ( D)
labor demand depends the demands of products which are produced by the labor. So it is called derived demand.
10 )
Answer: True Statement.
Even non-union members are entitled for same benefits as union members. Law does not discriminate between two types of workers.
In the market for a network good, the private demand curve lies to the right of...
Question 41 1 pts The market demand curve is an aggregation of the individual buyers' demand curves. False True
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand curve for its product. Statement 2: A monopolist uses the same profit maximization rule that the perfectly competitive firm uses. Both statements (1) and (2) are false. Both statements (1) and (2) are true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Which of the following is TRUE of the model of perfect competition? There are...
Other things remain unchanged, the market demand curve for a particular product is expected to shift leftwards when the price of that product declines.Question 1 options:TrueFalseQuestion 2Other things remain equal, which of the following factors causes the market supply curve of Blue-ray players to shift leftwards?Question 2 options:The costs of producing a single Blue-ray player increases.The number of firms selling Blue-ray players increases.The sellers are expecting the price of Blue-ray players to decline in the soon future.Non of the above...
5&6 5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
Question 49 (1 point) Deadweight loss will be larger when the demand curve is more inelastic. True False Question 50 (1 point) In general, economists believe it is better to tax elastic goods. True False Question 51 (1 point) Saved Governments will raise the most revenue if they tax the more inelastic goods. True False
3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with...
the demand curve faced by a perfectly competitive firm is horizontal yes it a true or false question Class Name Chapter 8 -Micro Indicate whether the statement is true or false. 1. The behaviour of an individual perfectly competitive firm has a definite influence o a. True b. False Tee e a. True b. False 6. The market demand curve in a perfectly competitive industry is downward sl individual perfectly competitive firm is horizontal a. True b. False 7. To...
please explain all details. Market demand curve for a good produced only by two firms is given by P= 70- 20. Both firms produce with constant and identical marginal cost of 3. 10, that is MC, = MC, = 10. (P,Q.4-42,) in Cournot equilibrium. a) Find b) Find (P,Q,q1,92,,, 2) in Stackelberg equilibrium with Firm 1 acting as the leader. c) Compare your findings with monopoly and competitive equilibria. Market demand curve for a good produced only by two firms...
This homework assignment compares a competitive market with a monopolistic market. The market demand curve is P 122-¼Q. For each firm, marginal oosts are 20 + qi50 and fixed costs are 1 00. We assume first that the market is competitive. Module 8explains the competitive pricing procedure. Wederive the long-run price from the firms' cost curve competitive firms price at long-run minimum average costs. Question: Why is this relation true? Answer: Decreasing marginal utility implies an upward sloping marginal cost...
When drawn against the real interest rate, the output demand curve shifts to the right when Question 15 options: 1) current capital stock decreases. 2) current capital stock increases. 3) real wage rate decreases. 4) real wage rate increases. 5) current capital stock and real wage rate increases.