State the law of diminishing returns. write down its causes, Ask an Expert

Economics

problem 1:

State the law of diminishing returns. prepare down its causes and effects.

problem 2:

Make a distinction between perfect and imperfect markets.

problem3:

A monopolist with the linear demand curve finds which it can sell two units at $120 each or 12 units at $20 each. Its fixed cost is $20 and its marginal cost is constant at $30 per unit.

a) Sketch the MC, ATC, MR and demand curves for this monopolist.

b) At what output level would the monopolist generate?

c) At what output level would a perfectly competitive firm generate?

problem 4:

Discuss and critically describe Subsistence Theory and Wage Fund Theory of Wage Determination.

problem 5:

According to Bohm-Bawerk what are the reasons for emergence of rate of interest?

problem 6:

Discuss and critically describe the short run and long run aggregate supply curves.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M99846

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