Advertisement

Economics Questions and Answers (Q&A)

Anika Nicole, Wordsmith
Answered: Jun 27, 2018
MR = MC rule applies both to pure monopoly and pure competition. Basically, MC=MR is a profit maximization formula where MC stands for Marginal Cost and MR stands for Marginal Revenue. ...Read More

3 Answers

3003 views
L.Steven
Answered: Jan 07, 2018
The market economy is a special kind of economy in which the economic decisions and ultimately the market is guided by self-interests and the prices. There is little, if any government...Read More

4 Answers

2631 views
Ken Wilson, Marketing Analyst
Answered: Jan 17, 2019
Letter D is the correct answer to this number. Adam Smith, a famous economist, quoted in his book that firms and households are guided by some invisible hand that leads them to market outcomes...Read More

2 Answers

1563 views
C. Lopez, Chauffer
Answered: Mar 07, 2019
The value of the best opportunity a student gives up to attend college. Opportunity cost is also referred to as alternative cost. It is the cost of given up something to gain something else....Read More

2 Answers

1006 views
C.Dorothy
Answered: Feb 28, 2018
International trade has been a thing as long as there have been multiple nations aware of one another. International trade occurs because resources are not evenly distributed amongst nations....Read More

2 Answers

864 views
John Smith
Answered: Feb 01, 2023
Resources are limited.

3 Answers

845 views
J. Harty, Writer
Answered: Feb 28, 2019
It is a known fact that the water that people can drink and use has considerably lessened over the past years. There was a time when clean water was abundant and it will be easy for people to get...Read More

2 Answers

806 views
Tclea
Answered: Feb 01, 2023
There is much more disagreement among economists over positive economic analysis than over normative economic analysis

1 Answer

716 views
John Smith
Answered: Feb 01, 2023
The average cost declines as output increases

1 Answer

670 views
Cypriot
Answered: Feb 01, 2023
What you give up to get that item.

1 Answer

653 views
H.Jennifer
Answered: Apr 23, 2018
In micro-economic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice of a best alternative cost while making a decision. Opportunity cost is...Read More

3 Answers

652 views
Robert Hazlewood, Senior Executive
Answered: Feb 26, 2019
The correct answer to this question is a decrease in the price of the flour because white bread uses flour as one of its primary ingredients, the price of this commodity will affect the cost to...Read More

2 Answers

618 views
E. Austin
Answered: Mar 27, 2019
Economic agents respond to incentives, car owners purchase more gasoline from a gas station that sells gasoline at a lower price than other rival gas stations in the area, banks do not take steps...Read More

1 Answer

603 views
Tclea
Answered: Feb 01, 2023
Scarcity refers to the situation in which unlimited wants exceed limited resources

1 Answer

591 views
Ken Wilson, Marketing Analyst
Answered: Jan 17, 2019
Though the government does not give free food to us directly, it provides jobs to the people for us to have the capability to buy food for ourselves. The government also provides food and social...Read More

3 Answers

560 views
Advertisement
Advertisement
Loading, please wait...

Email Sent
We have sent an email to your address "" with instructions to reset your password.