Answer:
2) the gold rules principle
Explanation:
The gold rules principle is important because companies maximize their profits when marginal revenue = marginal costs. That is why the revenue-cost relationship is so important, because higher revenue will only generate higher profit if costs are under control.
Answer:
Goods on which consumer spend less proportion of his income has an inelastic demand like a needle and newspaper. But the amount of income of a consumer does not affect the price elasticity of demand. Consumer's income has no relation with the price elasticity of demand for a particular good.
Explanation:
App create????? No way that’s sus!!!
Answer:
The economy has an unemployment rate higher than the natural rate of unemployment.
Explanation:
Full Employment is when all workers able & willing to work, are employed.
Unemployment is when a person able & willing to do a work , doesn't get work.
However, there is certain 'natural' level of unemployment normalised during efficient running of economy. It involves frictional & structural unemployment. Frictional unemployment is temporary unemployment of people shifting their jobs and Structural unemployment is temporary unemployment due to industrial reorganisation (eg : technological change).
So, Economy being below Full Employment implies that economy has unemployment level above natural rate of unemployment.
