Define Marginal Utility
Marginal Utility: It is addition more to the net or total utility as consumption is increased by one more unit of commodity.
Financial assets will create lower rates of return to prospective investors while: (w) they become more liquid. (x) their prices go up. (y) interest rates increase. (z) default risks decrease. Hey
Please provide me answer of this question. What will be the implications for consumer's preferences and her indifference curves if the axiom of transitivity does not hold?
When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.
When only Q0 papayas reached the market in that case: (1) desperate buyers would be willing to pay only P1 per papaya. (2) production costs would exceed P2 per papaya. (3) buyers would be indifferent regarding getting additional papaya
Assume that a firm with market power in output market wishes to grow up and that hiring more workers needs it to increase wages 8% for all the workers. Output prices will most likely: (1) Increase 8% to cover the wage raise. (2) Increase less than 8% as wages are only
Fiscal deficit: When the total government expenses are more than total government receipts exclusive of borrowing it is termed as fiscal deficit. Fiscal deficit = Total Government Expenditure – Tot
Economic profits are NOT recompenses to entrepreneurs who: (1) endure business uncertainty. (2) provide society along with economic capital. (3) innovate new goods and technologies. (4) exercise monopoly power or monopsony power. (5)
The average prices for many goods tend to drop when Wal-Mart opens a store in the new market area. Such price cuts are most probable to yield rises in the average: (1) Economic gains of local restaurants. (2) Accounting Gains of local stores operated by the Sears, K-M
State the Law of supply and explain the factors that affecting supply of commodity
The backward bending supply curve for the labor takes place when: (1) Firms want to hire only some quantity of labor. (2) There is a change in elasticity of the resource supply. (3) Workers prefer leisure over added income over some wage. (4) Minimum wage legislation
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