ordinal utility
In economics, what is ordinal utility and what are its assumptions
Explaining the poverty line by the income needed to maintain a specified standard of living is: (w) a positive poverty standard. (x) a relative poverty standard. (y) a normative poverty standard. (z) an absolute poverty standard. Q : Market form-product distinguishing In In which market form, the products are distinguished. Answer: In Monopolistic competition
In which market form, the products are distinguished. Answer: In Monopolistic competition
I have a problem in economics on Economic concept of total costs. Please help me in the following question. The economic concept of total costs and the bookkeeper’s concept of net costs differ as economists: (1) Place a lower value on the psychi
State the slope of indifference Curve? Answer: Slope of indifference curve is equivalent to MRS, that is, Marginal Rate of Substitution.
Describe the law of demand with help of a schedule diagram? Answer: The Law of demand states that there is an inverse relationship among the price of a commodity an
What are the various functions of price mechanism in a free market economy?
Legal tender money: Money which is declared legally as the medium of exchange by government is termed as legal tender money.
Hey friends I need your suggestion for this query about the profit and losses as illustrated graph when this firm produces q2 output, in that case its: (w) MR > MC. (x) MR < MC. (y) MR = MC. (z) P > MC.Please give me right answer for the same.
When a tax on goat cheese is totally paid by consumers through higher prices, in that case the tax has been: (1) alleviated. (2) actualized. (3) backward shifted. (4) forward shifted. (5) randomized. Hello guys I w
Staunch defenders of the contribution standard for income distribution would not argue that: (w) people must receive income at least commensurate along with survival needs. (x) equity requires people to be rewarded as per their marginal productivity.
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