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.
The popular sporting goods magazine publishes a report on quality and safety of different brands of ski equipment. This report would be most probable to determine a problem consumer’s face since of: (i) Adverse selection. (ii) Brand-name bias. (iii) High priced
An example of the vertical merger would be: (i) Merging the Oscar Myer hot dog Company with Wrangler Jeans Company and Aquafina Water Company. (ii) The log cabin architecture firm merging with the logging company and construction company. (iii) Merger between Wachovia
Explain the concept of a concentration ration. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitve industry? Explain the answer
How does rise in price of a substitute good in consumption influence the equilibrium price?
Oligopolies are least expected to emerge due to: (1) economies of scale. (2) price discrimination. (3) strategic barriers to entry. (4) mergers. (5) legal barriers to entry. Can anybody suggest me the proper explan
Features of oligopoly: 1) Few sellers in the market 2) Firms sell homogenous or differentiated products. 3) Price Rigidity. 4) Behavior of each firms dependence on the other firms.
The methods unions use to raise the wages of their members do not comprise: (1) Rising the demand for the union labor. (2) Establishing higher salaries and allotting work to members. (3) Facilitating the management plans to raise productivity. (4) Raising the supply o
The problem of moral hazard is finest explained by the behavior of an individual who: (1) Dates two distinct people on the sly. (2) Doesn’t lock up her car since theft is covered by the insurance. (3) Steals to support the serious drug habit. (4) Understates the
Identify and explain the main economic factors that determine the price of a good or service. Please include how demand and supply interact and elasticity, etc. Also give examples with graphs.
A firm generating where MC = SRAC = LRAC operates at the minimum point of its: (w) short-run and long-run average total cost curves. (x) long-run total cost curve. (y) total physical product of labor curve. (z) maximum profit curve. Discover Q & A Leading Solution Library Avail More Than 1447150 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1940603 Asked 3,689 Active Tutors 1447150 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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