A. In the short run rather than the long run
B. If factors of production are relatively immobile between industries
C. If there are very few producers
D. If it is easy to expand output
- Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
- Which of the following is an example of price floor ?
- Assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
- Which of the following is a price that is equal to the face value of a security?
- According to the supply side of the vicious circle theory of development a country is poor because ?
- Antonym of Elastic is _____________?
- What does price elasticity of demand measure?
- A firm in perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is?
- A contraction in supply occurs when ?
- Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
- Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
- A price floor ?