Neoclassical and heterodox

One of my friends can't succeed to get the answer of this question. Provide answer of this question. Economists of neoclassical argue that goods contain just subjective (or personal) use-value dimension; heterodox economists argue that goods contain use-value and social dimensions both. Discuss.

View Complete Question

Related Questions in Microeconomics

Q : Determine monthly maximum possible

Maximum possible total revenue monthly from sales of RoboMaids is about: (i) $70 million. (ii) $100 million. (iii) $125 million. (iv) $170 million. (v) $230 million.

Q : What will be included in illustrations

Illustrations of price floors comprised: (1) agricultural subsidies upon, for example: corn. (2) usury laws, that are limits on the interest rates on loans. (3) utility rate structures upon natural gas or electricity. (4) rent controls in London, San

Q : Question based on GDP In calculating

In calculating the GDP national income accountants: A) treat inventory changes as an adjustment to personal consumption expenditures. B) ignore inventories because they do not represent final goods. C) subtract increases in inventories or add decreases in inventories.

Q : Maximum economic profits in purely

For this purely competitive firm, area P2P1de shows: (1) fixed cost (TFC). (2) losses, but the minimum possible economic loss. (3) average fixed cost (AFC). (4) maximum economic profits. (5) the rate of return on investment.

Q : Price discriminating-monopoly A price

A price discriminating-monopoly will NOT: (w) charge various prices for a good to various consumers. (x) charge various prices for a good without cost differential. (y) charge similar price to all consumers. (z) charge more for those consumers who hav

Q : Market power in the output market The

The profit-maximizing firm which is perfectly competitive in the resource market however which consists of market power in the output market will hire the labor at a point where: (1) VMP = MRP = MFC = w. (2) VMP>MRP=MFC=w. (3) VMP=MRP=MFC>w. (4)

Q : Purely competitive firms in increasing

When purely competitive firms operate within increasing cost industries, several: (1) individual firms’ supply curves should be horizontal. (2) firms should experience decreasing returns to scale at low output levels. (3) specia

Q : Define cost Cost : This refers to the

Cost: This refers to the money expenses acquired on the production of a specified amount of commodity.

Q : Problem of Income Effects on paychecks

I have a problem in economics on Income Effects on paychecks. Please help me in the following question. Whenever prices are increased and your paycheck does not alter the purchasing power of your pay refuses. This is an instance of the: (1) Substituti

Q : Problem on organizing the business The

The individual who wants to begin up a business, however who not want to risk in losing personal property if the business fails, must organizes the business as: (1) Sole proprietorship. (2) Partnership. (3) Corporation. (4) Unlimited partnership.

Discover Q & A

Leading Solution Library

Avail More Than 1457095 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931216
Asked

3,689

Active Tutors

1457095

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment