Description : If there is a price floor, there will be a. shortages b. surpluses c. equilibrium
Last Answer : b. surpluses
Description : What does Price flooring mean? a) Shortage b) Surpluses c) Equilibrium d) None of the above
Last Answer : Answer- b
Description : The agricultural price support program is an example of a. a price ceiling b. a price floor c. equilibrium pricing
Last Answer : b. a price floor
Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above
Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;
Description : The example of agriculture price support program is? a) A price ceiling b) A price floor c) Equilibrium pricing d) None of the above
Description : If there is a price ceiling, which of the following is NOT likely to occur? a. rationing by first-come, first-served b. black markets c. gray markets d. sellers providing goods for free that were formerly not free
Last Answer : d. sellers providing goods for free that were formerly not free
Description : Equilibrium price in the market is determined by the - (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.
Last Answer : (4) equality between marginal cost and marginal revenue. Explanation: The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the ... in equilibrium at the point of equality of marginal cost and marginal revenue. (MC = MR).
Description : Equilibrium price is the price when : (1) supply is greater than demand (2) supply is less than demand (3) demand is very high (4) supply is equal to demand
Last Answer : (4) supply is equal to demand Explanation: The equilibrium price is the price where the goods and services supplied by the producer equals the goods and services demanded by the customer(s). How the equilibrium price is achieved is through the 'Invisible Hand', or market forces of the economy.
Description : Equilibrium price means - (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximize profit
Last Answer : (1) Price determined by demand and supply Explanation: Equilibrium price is a state in economy where the supply of goods matches demand. When a major index experiences a period of consolidation or sideways ... short, it is the market price at which the supply of an item equals the quantity demanded.
Description : The equilibrium price of a commodity will definitely rise if there is a/an: (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.
Last Answer : (4) increase in demand accompanied by a decrease in supply. Explanation: Price of a commodity is always determined by the forces of demand and supply in the market. The price at which ... equilibrium price definitely increases when there is an increase in demand combined with the decrease in supply.
Description : According to the effective demand principle: a) at a certain price, the output shall not be determined by any known factor b) at a certain price, the output will remain unaffected by rise or ... certain price, equilibrium output will be solely determined by the aggregate demand d) none of the above
Last Answer : c) at a certain price, equilibrium output will be solely determined by the aggregate demand
Description : In a monopoly market, an upward shift in the market demand results in a new equilibrium with A.A higher quantity and a lower price B.A higher quantity and the same price C.A higher quantity and higher price D.All of the above
Last Answer : C.A higher quantity and higher price
Description : Equilibrium price in the market is determined by the (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.
Last Answer : equality between marginal cost and marginal revenue.
Description : The equilibrium price of a commodity will definitely rise if there is a/an : (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.
Last Answer : increase in demand accompanied by a decrease in supply.
Description : Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit
Last Answer : Price determined by demand and supply
Description : What inflation or food shortages have you noticed?
Last Answer : At a resturaunt waffles were $9.00 for ONE waffle.
Description : What are some services shortages that you have, or had, in your area?
Last Answer : Also airport staff.
Description : Are Covid, or supply chain shortages, bad enough to spend a year or so in one's doomsday shelter?
Last Answer : N O !
Description : "Toilet to tap" water used to alleviate drought shortages...brilliant or disgusting?
Last Answer : answer:Sure. My county does it all the time, hundreds of millions of gallons each day. Household water goes through the sanitary sewers and is pumped to one of three water treatment plants. There it is ... had treated and recycled water here for 20+ years. Don't know why California took so long.
Description : What do you think would happen in the situation of major shortages of resources?
Last Answer : Anarchy. I would have to think more about which countries will survive and which will not. I suspect most major Western economies would struggle. We don’t have the survival skills we would need to manage in such circumstances. Great question.
Description : The Food Shortages are exposing the Filthy Nasty meat/ cooler shelves in the groceries! Get out the soapy water, Now is the Perfect Time..why is this acceptable?
Last Answer : Grocery stores hire as little people as possible, pay as little as possible, and overwork them as much as possible. They don't have time to clean, and they're not paid enough to care.
Description : Does anything change then?
Last Answer : As many jobs are ruined, labor shortages will also decline. After that, however, there will be a lot of job seekers, so there will not be enough work.
Description : In 1942 in an effort to solve the problems of labor shortages the US began the bracero program this program brought workers into the country from?
Last Answer : Feel Free to Answer
Description : _____________is a feature of an operating system that allows a computer to compensate for shortages of physical memory by temporarily transferring pages of data from RAM to disk storage. A. Flash memory B. Virtual memory C. Buffer D. None of the Above
Last Answer : B. Virtual memory
Description : Once the logic of a network is laid out, the project manager will conduct a forward pass and a backward pass through the network. This will provide information regarding ______ and will identify ... C. Resource shortages, high risk activities D. The high risk activities, non-critical path
Last Answer : A. The total duration of the project, critical path
Description : Why would the government establish a price ceiling?
Last Answer : What is the answer ?
Description : Where can I find ceiling fans for a good price?
Last Answer : Ceiling fans can be brought from any hardware/electronic shop . You can check out any home decor shop to avail cool products , such are remote controlled fan etc.
Description : In order to limit the shortage that naturally results from a price ceiling the government can do what to certain goods?
Last Answer : Ration
Description : The market equilibrium for a commodity is determined by : (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) (3) The intervention of the Government. (4) (4) The market demand of the commodity.
Last Answer : (2) The balancing of the forces of demand and supply for the commodity Explanation: Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity ... equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.
Description : Equilibrium output is deter-mined by: (1) the equality between total Variable cost and Marginal revenue. (2) the equality between Marginal cost and Marginal revenue. (3) the equality between Average cost and Average revenue. (4) the equality between total cost and total revenue.
Last Answer : (2) the equality between Marginal cost and Marginal revenue. Explanation: Equilibrium Output refers to the level of output where the Aggregate Demand is equal to the Aggregate Supply (AD = AS) in an ... because it adds to its profits. He stops producing more only when MC becomes equal to MR.
Description : A firm is in equilibrium when its (1) marginal cost equals the marginal revenue (2) total cost is minimum (3) total revenue is maximum (4) average revenue and marginal revenue are equal
Last Answer : (1) marginal cost equals the marginal revenue Explanation: A consumer is in a state of equilibrium when he achieves maximum aggregate satisfaction on the expenditure that he makes depending on the ... its production. In short run Marginal revenue = Marginal Cost is the condition of equilibrium.
Description : The General Equilibrium Analysis" was developed by - (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith
Last Answer : (3) Walras Explanation: French economist Leon Walras put forward the General Equilibrium Theory in his pioneering 1874 work 'Elements of Pure Economics'. The theory attempts to explain the functioning of ... tried to show how and why all free markets tended toward equilibrium in the long run.
Description : The equilibrium of a firm under perfect competition will be determined when - (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost
Last Answer : (3) Marginal Revenue = Marginal Cost Explanation: 173. (3) When the marginal revenue productivity of a factor is equal to the marginal- cost (MR=MC) of the factor, the firm will be in ... revenue and marginal revenue (P = AR = MR) is the standard condition for a perfectly competitive firm.
Description : Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right
Last Answer : (4) The labour demand curve shifts to the right Explanation: As labour productivity increases, the production function shifts up and simultaneously the labor demand curve shifts out and right. At ... , the production function shifts up and simultaneously the labor demand curve shifts out and right.
Description : At "Break-even point", (1) the industry is in equilibrium in the long run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point
Last Answer : (4) the firm is at zero-profit point Explanation: The break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even." For businesses, reaching the break-even point is the first major step towards profitability.
Description : The balance of payments of a country is in equilibrium when the - (1) demand as well as supply of the domestic currency are the highest (2) demand for the domestic currency is equal to its supply (3) demand for the domestic currency is the highest (4) demand for the domestic currency is the lowest
Last Answer : (2) demand for the domestic currency is equal to its supply Explanation: When the balance of payments (BOP) of a country is in equilibrium, the surplus or deficit is eliminated from the ... currency is equal to its supply. The demand and supply situation is thus neither favourable nor unfavourable.
Description : Equilibrium is a condition that can - (1) never change (2) change only if some outside factor changes (3) change only if some internal factor changes (4) change only if government policies change
Last Answer : (3) change only if some internal factor changes Explanation: In economics, economic equilibrium is a state of the world where economic forces are balanced and in the absence of external influences the ... change if there is a change in demand or supply conditions which arc internal factor changes.
Description : In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost
Last Answer : (4) marginal revenue with marginal cost Explanation: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost ... marginal cost curve. The marginal cost curve is thus the perfectly competitive firm's supply curve.
Description : An economy is in equilibrium when - (1) planned consumption exceeds planned saving (2) planned consumption exceeds planned investment (3) intended saving equals intended investment (4) intended investment exceeds intended savings
Last Answer : (3) intended saving equals intended investment Explanation: In economics, economic equilibrium is a state of the world where economic forces are balanced and in the absence of external influences ... and intended investment. An economy is in equilibrium when total savings equal total investment.
Description : The situation in which total Revenues equals total cost, is known as : (1) Monopolistic competition (2) Equilibrium level of output. (3) Break even point (4) Perfect competition
Last Answer : (3) Break even point Explanation: In economics and cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even."
Description : The situation in which total revenue is equal to total cost, is known as - (1) monopolistic competition (2) equilibrium level of output (3) break-even point (4) perfect competition
Last Answer : (3) break-even point Explanation: In economics and cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or ... made, although opportunity costs have been "paid", and capital has received the riskadjusted, expected return.
Description : In the long-run equilibrium, a competitive firm earns - (1) Super-normal profit (2) Profits equal to other firms (3) Normal profit (4) No profit
Last Answer : (3) Normal profit Explanation: Making the assumption that the market demand curve remains unchanged, higher market supply will reduce the equilibrium market price until the price = long run average cost. ... of firms in and out of the industry and a long-run equilibrium has been established.
Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C
Last Answer : c. budget surplus of $1000
Description : The term group equilibrium is related to A.Monopolistic competition B.Oligopoly C.Duopoly D.Perfect competition
Last Answer : A.Monopolistic competition
Description : The equilibrium is unstable and indeterminate under A.Edgeworth model B.Cournot Model C.Sweezy Model D.Pareto Model
Last Answer : A.Edgeworth model
Description : Impact of change in demand in one sector on other sectors is studied by A.General equilibrium B.Partial equilibrium C.Both (a) and (b) D.None of these
Last Answer : A.General equilibrium
Description : Other things remaining the same, when a consumer's income increases, his equilibrium point moves to A.A higher indifference curve B.To the left-hand side on the same indifference curve C.Remains unchanged on the same indifference curve D.A lower indifference curve
Last Answer : A.A higher indifference curve
Description : Who is credited for the concept that there could be equilibrium in an economy at less than full employment also ? (a) J.B. Say (b) Keynes (c) Fisher (d) Milton Friedman
Last Answer : (a) J.B. Say