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.
Current budgets for transfers “in-kind” have developed most significantly for spending upon: (w) Medicare and Medicaid. (x) food stamps. (y) public housing. (z) grants to expand educational opportunity.
Elucidate the consequence of an increase in demand of a commodity on its equilibrium quantity and price? Answer: Increase in demand causes a rightward shift in the
The percentage change within quantity demanded along this demonstrated linear demand curve is: (w) greater than the percentage change within price in range b. (x) smaller than the percentage change within price in range a. (y) precise
Decreased airline bookings subsequent to some major airline crashes would point out a: (i) Reduction in the amount of airline travel demanded. (ii) Drop in the demand for air travel. (iii) Phobia among air travelers which is irrational. (iv) Horizontal demand curve fo
The form of discrimination which probably causes the smallest problems for income distribution is: (1) occupational discrimination. (2) human capital discrimination. (3) price discrimination. (4) personal discrimination. (5) employment discrimination.
Which cost might there if output is zero? Answer: Fixed cost
Economic losses produce competitive pressures which decrease the industries: (w) output and number of firms. (x) prices and profits. (y) percentage mark-ups over costs. (z) long term labor turnover. I need a good a
Explain the term PHP?
Refer to the following data. Equilibrium price will be: A) $4. B) $3. C) $2. D) $1. Give the answer of above questaion
Price of related goods: a) Substitute goods – Whenever the price of substitute goods raises they become dearer whenever the price replaces goods falls they bec
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