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Economics of Enterprise
If a firm faces a perfectly elastic demand curve for its product, then.........
A. MR = TR×P
B. MR = AR×P
C. MR = TR/Q=P
D. MR = AR=TR/P
Economics of Enterprise
Given market demand Qd=50-p and market supply P=Qs+5
Find the market equilibrium price and quality
Find the market equilibrium price and quality
Economics of Enterprise
ceteris paribus, if 10% increase in income has caused a 20% decrease in the quantity of gas demanded then from this we can conclude that gas is
Economics of Enterprise
What are the types of demand derteminats?
Economics of Enterprise
The concept of market mechanism can’t work under a command economic system. Explain this statement and then illustrate the perfect economic system which suits the market mechanism.
Economics of Enterprise
State and explain the types of enterprise giving examples for each one of them
Economics of Enterprise
If the price of a complement in production increases then
A. the supply of the related good will decrease.
B. the demand for the related good will decrease.
C. the demand for the related good will increase.
D. the supply of the related good will increase.
A. the supply of the related good will decrease.
B. the demand for the related good will decrease.
C. the demand for the related good will increase.
D. the supply of the related good will increase.
Economics of Enterprise
Any firm should:
Cease production if total revenue is not sufficient to cover total cost
Economics of Enterprise
Any firm should:
Cease production if total revenue is not sufficient to cover total cost
Economics of Enterprise
- Suppose independent truckers operate in a perfectly competitive constant-cost industry. If these firms are earning positive economic profits, what happens in the long run to the following: the price of trucking services, the industry quantity of output, and the profits of trucking firms?
