Question
Kilowatt-hour is the unit of
:Solution
The kilowatt hour, or kilowatt- hour, is a unit of energy equal to 1000 watt hours or 3.6 mega-joules For constant power, energy in watt hours is the product of power in watts and time in hours. The kilowatt hour is most commonly known as a billing unit for energy delivered to consumers by electric utilities.
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
In case of Giffens goods, price effect is
From the resource allocation point of view, perfect competition is preferable becauseÂ
Shifts in demand curve as shown in the figure below represents
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Elasticity of demand measures the
Pricing decision includes
Which one of the following is not the function of a managerial economist?
Elasticity of demand is based on which of the following factors?
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