Lexicographic preference ordering
I have problem in this question. What is lexicographic preference ordering? Provide me correct answer of this.
The changes in a household’s tastes most directly influence the families: (1) Number of members. (2) Demands for goods. (3) Total wealth. (4) Income constraint. Can someone please help me in finding out the a
The price makers within a purely competitive market are: (i) auctioneers (ii) buyers. (iii) sellers. (iv) both buyers and sellers. (v) nobody. I need a good answer on the topic of Economics problem
When each 1 percent hike in the price of pencils causes a 2 percent decline within the quantity of erasers sold, the price crosses elasticity of demand for such complementary goods is about: (1) -2.0. (2) -1.0. (3) -4.0. (4) 2.0. (5) 1.0.
Production possibilities frontiers be inclined to concave (or bowed out) from the origin as: (1) goods differ in their capacities to gratify individual needs. (2) A land, labor and capital mix is needed for all the production. (3) People vary in their
Money: Money is what money does. Or Money is something that is accepted as a medium of exchange and at similar time act as a store of value.
Deficit budget: When expenditure of the government is greater than its receipts, it is termed as deficit budget.
The economy consists of a single buyer and a single seller. The buyer has the utility function b ln xB1 + xB2 with b ≤ 10. The seller has the
From about 1890 till 1970 year, the “structure-conduct-performance paradigm” dominated theories regarding how firms behave in various types of markets. The term here “performance” in this context refers to those things as: (i)
Refer to the given diagram. As it associate to production possibilities analysis, the law of increasing opportunity cost is reflected in curve:1) A 2) B 3) C 4) D Q : Excess demand for commodity When do we When do we state that there is an excess demand for a commodity in the market?
When do we state that there is an excess demand for a commodity in the market?
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