Consumer purchase decision
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
Expert
The Consumer purchases upto point where the marginal utility is equavalent to the price (MU=P). So long as marginal utility is bigger than price, he keeps on purchasing. As he makes purchases MU falls or downs and at a specific quantity of the good MU becomes equavalent to price. Consumer bought upto this point.
Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?
What are the merits of speciality in the use of human and material resources?
What is the opportunity cost of attending college? In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs. How might this difference relate to opportunity costs?
Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.
Explain determining the types of the various products that will be produced?
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good. Answer:
Illustrate the 4th role is the reallocation of resources?
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
How can we calculate Price earnings ratio?
18,76,764
1925435 Asked
3,689
Active Tutors
1420103
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!