If a fisherman must sell all of his daily catch before it spoils for whatever price he is offered, once the fish are caught the fisherman's price elasticity of supply for fresh fish is
Anonymous Quiz
28%
zero
34%
infinite.
17%
one.
22%
unable to be determined from this information.
👍25👎6
A decrease in supply (shift to the left) will increase total revenue in that market if
Anonymous Quiz
28%
demand is price inelastic.
32%
supply is price elastic.
21%
supply is price inelastic.
19%
demand is price elastic.
👍28👎1
Want satisfying capacity of goods and services is called_________
Anonymous Quiz
14%
Production
10%
Capacity
54%
Utility
22%
Demand
👍21👎1
___________ is a quantitative combination of two goods that can be purchased by a consumer from his given market prices.
Anonymous Quiz
14%
Information
25%
Data
13%
Figures
48%
Consumers bundle
👍31👎3
____________ is a line showing different combinations of two goods which a consumer can buy by spending his whole income at a given price of the goods.
Anonymous Quiz
11%
Budget bundle
36%
Budget set
36%
Budget line
17%
All of the above
👍27👎15
___________ is the rate at which a consumer is willing to substitute good Y for good X.
Anonymous Quiz
34%
Opportunity cost
13%
Opportunity gain
45%
Marginal rate of substitute
8%
Marginal cost
👍25
Formula for MRS is ____________
Anonymous Quiz
39%
Loss of good Y / gain of good X
30%
Loss of good X / gain of good Y
24%
Gain of good y / loss of good X
7%
Gain of good X / loss of good
👍34👎4
MRS abbreviated as _________
Anonymous Quiz
70%
Marginal Rate of Substitution
13%
Marginal Rate of Subtracted
13%
Margin Rate of Solvency
4%
None
👍29👎5
____________ is a line showing different combinations of two goods which a consumer can buy by spending his whole income at a given price of the goods.
Anonymous Quiz
11%
Budget bundle
18%
Budget set
49%
Budget line
22%
All of the above
👍59👎31
👍46👎5
___________ is the total satisfaction a consumer gets from consumption of all units of a commodity
Anonymous Quiz
23%
Utility
62%
Total utility
14%
Marginal utility
👍56👎1
____________ is the net increase in total utility by consuming an additional unit of a commodity.
Anonymous Quiz
15%
Utility
75%
Marginal utility
10%
Total utility
👍77
Business_Communication_for_B_Com_course_of_Uttar_Pradesh_Universities.pdf
3.7 MB
Business Communication
Pearson Publication
Pearson Publication
👍105👎3
Forwarded from PG TRB COMMERCE
👍6
Forwarded from Professor Academy 💎
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