Short-run returns to fixed supply of factor of production are known as
The concept of quasi rent was introduced in economic theory by Marshall Marshall’s concept of quasi-rent is the extension of the Ricardian concept of rent to the short run earnings of the capital equipment (such as machinery, building etc.) which are in inelastic supply in the short run.The distinguishing characteristic of land is the fact that its supply is perfectly inelastic to changes in its price and therefore its earnings depend mainly upon the demand for it. But, in the short run, the fixed capital equipment such as machinery is likewise perfectly inelastic in supply and cost of its production is not relevant once it has been produced
A box contains only three colors of balls- red, green and blue. What is the minimum number of balls that should be picked from the box to ensure that at...
A box contains (x + 10) pencils, (x + 15) pens, and (x + 20) markers. The probability of drawing a marker from the box is (2/5). Find the number of pens...
In a box there are 8 red, 7 blue, and 6 green balls. One ball is picked up randomly. What is the probability that it is neither red nor green?
A bag contains 14 black and 16 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
A basket contains (x + 4) red apples, (x + 6) green apples, and (x + 8) yellow apples. The probability of drawing a yellow apple from the basket is (7/2...
In a lottery, there are 6 prizes and 30 blanks. A lottery is drawn at random. What is the probability of getting a prize?
What is the probability that four A’s come consecutively in the word ‘AMALGAMATION’
A bag contains 12 black and 14 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
...One five letter word is to be formed taking all letters – U, Z, M, O and Q. What is the probability that this is word formed will contain all vowe...
A jar contains 54 marbles each of which is blue green or white. The probability of selecting a blue marble at random from the jar is 1/3 and the probabi...