Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Exceptional supply curves
In have some situations the slope of the supply curve may be reversed.
i) Regressive Supply. In this case, the higher the price within a certain range, the smaller the amount offered to the market. This may occur for example in some labour markets where above certain level, higher wages have a disincentive effect as the leisure preference becomes high. This may also occur in undeveloped peasant economies where producers have a static view of the income they receive. Lastly regressive supply curves may occur with target workers.
ii) Fixed Supply. Where the commodity is rare e.g. the "Mona Lisa", the supply remains the same regardless of price. This will be true in the short term of the supply of all things, particularly raw materials and agricultural products, since time must elapse before it is physically possible to increase output.
structure of managerial economics
Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c
Limitations of Uneven Distribution of Income and Wealth Unlike the historical experience of the now developed countries, the rich in contemporary Third World Countries are not
Goverment Banker, Fiscal Agent and Adviser Central banks in all countries acts as the fiscal agent, banker and adviser on all important financial matters to government of thei
State about Production theory Production theory assists in determining the size of firm and level of production. It clarifies the relationship between marginal and average cost
What is the difference between monopoly and perfect competition? Monopoly versus Perfect Competition: 1. Perfect competition is equal to monopoly competition, at the perfe
Q. Illustrate about Pecuniary economies? Pecuniary economies (which is monetary economies) are those economies accrued by the firm from paying lower prices for the factors used
Explain factors determining elasticity of demand.
A. Define inflation. Explain the role of inflation during inflation and deflation. B. Managerial economics is a form of economics for managers do you agrees? explain you comment
A firm's technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd