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.
Assume that no externalities in production or consumption exist and the income distribution is universally viewed such as “fair.” When this firm could price discriminate perfectly, one condition for socially optimal output would be for: (i
This given figure demonstrates as: (w) Lorenz curve. (x) familial income distribution graph. (y) Gini curve. (z) Blanc income standard curve. Q : Problem regarding Wage Discrimination I I have a problem in economics on Problem regarding Wage Discrimination. Please help me in the following question. The economic term applied if equally productive workers are paid various wages is: (i) Wage discrimination. (ii) Racism. (iii) Employment
I have a problem in economics on Problem regarding Wage Discrimination. Please help me in the following question. The economic term applied if equally productive workers are paid various wages is: (i) Wage discrimination. (ii) Racism. (iii) Employment
Perfectly inelastic demand curves include constant price elasticities equivalent to zero as well as: (i) cannot exist within the real world across the full range of possible prices. (ii) happen more often than any other type. (iii) are horizontal line
The demand for authentic leather footballs would tend to rise if: (1) Prices for football pads and cleats reduced. (2) Cheap footballs recently molded from the synthetic fibers demonstrated enhanced durability and performance. (3) Latest records were set for injuries
For a gain maximizing competitive firm operating in the competitive labor market, the: (1) Marginal resource cost of the labor is similar to the wage rate. (2) Supply of the labor is perfectly inelastic. (3) Production quota is precisely proportional to the labor hire
When a purely competitive firm functions in a competitive resource markets in short run then the firm: (i) Confronts an inelastic supply curve for the output. (ii) Purchases inputs till the net cost of inputs equivalents the net value of outputs. (iii
When no goods generate external costs or benefits within their consumption or production and when the income distribution is deemed acceptable, in that case economic efficiency is promoted through: (w) government inte
A shortage as in below graph, during this market for papayas would match up to line: (1) ab. (2) cd. (3) ac. (4) bd. (5) ae. Q : Divide future income by one plus To discount income which will be received in one year from the interest rate, we: (w) multiply the future income by the interest rate. (x) divide the future income by the interest rate. (y) divide the future income by (1 + the interes
To discount income which will be received in one year from the interest rate, we: (w) multiply the future income by the interest rate. (x) divide the future income by the interest rate. (y) divide the future income by (1 + the interes
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