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Card 16 / 26:
Return to the problem explained in and . If the cost of labor remains at $40, but the cost of a machine decreases to $50, what would be the total cost of each method of production? Which method should the firm use, and why?
The new table should look like this:
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Questions & Answers
The amount of some goods or services consumers need to purchase
Adu
how do trade unions deal with subsidies
Yaya
bro can you explain decision making
WhatsApp
Decision making is a process to use your limited resources for best productive purpose.
Dipam
explain why an increase in national income may not always lead to improvement in economic wellbeing of all the citizens?
Mendo
How many types of labour do we have pls
ROA
skilled and unskilled labour
nabil
what are the factors that affects efficiency of labour ?
nabil
What are tools of economics analysis
Adu
Adu Tumwah,,, The tools of economics analysis are; Charts, graphs, equations, table, arithemetic mean, etc.
Dennis
Subsidies are payments made by the government to the producers of goods and services
Daizy
what is the marginal revenue if p=10-2q
what's the difference between demand goods and supply gooda
why is 2% the optimal inflation rate in many countries
Spiff
why is 2% the optimal inflation rate in many countries
Spiff
a general rise in the prices of services and goods in a particular country
Spiff
why is 2% the optimal inflation rate in many countries?
amina
resulting in a fall in the value of money,,
Spiff
Inflation is the continuous rise of price of goods and services in a nation
Oluchi
persistent increase in the general price level
Anyere
what will the effective demand if inflation is constant and real wage is less then money wage ?
to start with your question i think we have to break it down into key words, and they effective demand ,inflation and real wages ...
Ok when we say demand is effective we mean the demand is backed up by capital .. it is backed up by the ability to pay for the good/commodity demanded for
Dennis
in other hand inflation is the persistent rise of goods and services in and particular country's economy
Dennis
so what is real wages it means the amount paid to labour for a particular work done
Dennis
money wage is the money/capital paid to a worker
Dennis
knowing this terms you can be able to answer your question....
Dennis
I believe that a market is monopolistic if there is no competition. in other words, a given company is the only one offering the product/service.
amina
am a fan of monopoly
Okeke
and in other word,,, is a thing that belongs to one person or group that another people will not able to share
Spiff
a single seller and large number of consumer
Vipul
A monopoly is a firm that is the sole producer of a good or service for which there are no close substitutes. It exist because of barriers to entry. The barriers can be legal or natural.
Dennis
give tree difference between economic good and free good
economic goods produced by man efforts and free goods are free by nature
Kobwa
What are tools of economics analysis
Adu
economics provides tools to know our better desire and how to get maximum utility and right way right time decission power.
Inno
economic good are related to income to fullfill satisfaction
and free goods are natural resourses like sunshine rain air water from earth e.t.c
Inno
graphs,pie chart,histograms,tables,curves,etc.
nabil
why do government sometimes impose indirect taxes rather than direct taxes.
nabil
just five points with no explanations
nabil
anything just come from your heart
domingo
no matter how much you give
domingo
is what you desire to have
Tsai
their the human desire it's need(s).
Gideon
like medicine food etc
domingo
price floor support producer or consumer?
support for consumer
domingo
i'm not good due to corona virus
domingo
i would like to ask you for a little help to get rid of the corona virusand we have nothing to offer. thank you very much.
domingo
how to get the donation?
domingo
to feel sympathical ideas we 'll get donation and to tell a great religious reward
Inno
antagonist is the mode of production involves all discriminatory systems of production
Kobwa
what are the factors influencing the level of advance made by commercial banks?
What is Demand and supply
supply is the ability to sell goods and services at the specific period of time and at the specific price
Kobwa
demand is the ability and willingness to buy goods and services at the specific period of time and at the specific price
Kobwa
Sanni Saoban, Demand is a kind of need which is backed up by ability and willingness to pay.
Dipam
Demand is the various quantities of goods and services that a consumer is willing and able to buy at various prices within a given period of time
Sharon
Demand means desire for a commodity willingness and ability to purchased that commodity
Bhagabata
desired of good and services, when you try to sell something , you make the buyer need that something in a way that person buys the good or service from you. SUPPLY AND DEMAND
Erik
Am I right or wrong
Bhagabata
demand means the desire for product and being able to purchase goods
Rameez
He or she must have willingness
Bhagabata
buy and sell orders on the foreign exchange.
ay
it is the various quantities of goods and services a consumer is willing and able to buy at a price at a period of time
Gideon
demand is the amount of goods or services a consumer is willing and able to buy at a given price over a given period of time
Grace
why should a firm close down when it's unable to pay it's variable cost?
what is oligopolistic competitive market?
ngong
oligopolistic market is the market structure characterized by few sellers with large firm and mostly they produce goods that are differentiate & homogeneous goods
Kobwa
less demand due to assumptions
Inno
Source:
OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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