--%>

Lexicographic preference ordering

I have problem in this question. What is lexicographic preference ordering? Provide me correct answer of this.

   Related Questions in Microeconomics

  • Q : Concept of Production Possibilities

    The Production possibilities frontiers describe the concepts of: (1) A trade-off between inflation and unemployment. (2) Positive economics versus the normative economics. (3) Scarcity, opportunity costs, and reducing returns. (4) Absolute advantages

  • Q : What will happen when a supply of curve

    When a supply curve is positively sloped, a raise in demand will increase the equilibrium price as well as: (w) raise the quantity supplied. (x) raise supply. (y) decrease the quantity supplied. (z) decrease supply.

  • Q : Produce output by zero marginal reveune

    When LoCalLoCarbo, the favorite corporation of fad dieters,in that case produces output q* [that where is marginal revenue is zero] as: (1) LoCalLoCarbo’s total revenue is at its highest possible level. (2) expanding output to q4 would cause tot

  • Q : Determine income elasticity of demand

    This given figure as in below demonstrates how the consumption of goods A, B, C and D differs as a family’s income changes. There income elasticity of demand equivalents 1 for: (w) good A. (x) good B  (y) good C. (z) good D

  • Q : Individual demand and market demand

    Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices.

    Q : Determine total revenue when maximizes

    Total revenue when this firm maximizes economic profits would be: (w) $72,000 per period. (x) $80,000 per period. (y) $96,000 per period. (z) $100,000 per period.

    Q : Market structure in barriers of entry A

    A market structure in that barriers of entry tend to be important, with sales being dominated by some large firms is: (w) a monopoly market. (x) a monopolistically competitive market. (y) an oligopoly. (z) perfectly competitive market.

    Q : Diseconomies of scale problem Can

    Can someone help me in finding out the right answer from the given options. When the average production costs rise as the total production of a firm rises, the firm is experiencing: (1) economies of scale. (2) Economies of scope. (3) Diseconomies of scope. (4) Disecon

  • Q : Labor Unions Strikes-Lockouts Can

    Can someone please help me in finding out the accurate answer from the following question. Whenever unions and managements have failed to arrive at a collective bargaining agreement and management closes the production facilities to exert pressure on the union negotia

  • Q : Relative price of the good The demand

    The demand curve depicts a negative relationship among price and quantity demanded since the quantity demanded rises if there is a decline in the: (1) Size of the family. (2) Incomes of the consumer. (3) Relative price of good. (4) Price of the substitute good. <