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.
As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (i) MPPL = VMP. (ii) The price of output surpasses MFC. (iii) Monopolistic exploitation becomes essential to get profit. (iv) Imperfect competition can’t reach the eq
Why Features of monopolistic competition is monopolist in nature? Answer: (a) Control over price (b) Downward sloping demand curve
The economic loss occurs whenever total revenue: (i) Is equivalent to the total costs. (ii) Fails to cover the opportunity costs. (iii) Surpasses opportunity costs. (iv) Surpasses the explicit costs. Can someone please help me in f
What is APC? Answer: APC= C/Y.The ratio of income to consumption is termed as APC.
Evalute the statement. Generally People buy clothing in the city where they live. Therefore there is a clothing market in, say, Atlanta that is distinct from the clothing market in Los Angeles. This statement is tr
The individuals who eventually enable accumulation of capital into a market economy are: (1) consumers. (2) firms. (3) government. (4) savers. (5) capitalists. How can I solve my Economics problem?
Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.
The official United States “poverty line” is based upon the cost of securing the goods essential to maintain a standard of living: (w) at a middle class level of comfort. (x) one standard deviation below the national average. (y) that is m
The consumer who spends income and hence the ratio of MUs of all goods purchased equivalents the ratio of their prices is: (i) Maximizing net utility. (ii) Spending too much. (iii) Beyond the point of diminishing negative utility. (iv) Behaving incompatibly through pu
Efficient market hypotheses:a) Weak-form efficient market hypothesis: It assumes that current stock prices reflect all security market information including the historical sequence of prices, rates of return, trad
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