ordinal utility
In economics, what is ordinal utility and what are its assumptions
When most firms in a competitive industry experience economic profits, in that case long run competitive pressures tend to cause: (w) greater economic profits. (x) prices to decrease as firms enter the industry. (y) industry output to fall. (z) severa
At a price for $25, the demand for DVD games is around: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) positively associated to supply. Q : Other determinants that producers want In addition to price, what are the other determinants that producers want to sell?
In addition to price, what are the other determinants that producers want to sell?
Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree? Answer: Unit
Critics of negative income tax (NIT) proposals most generally argue that: (a) economic rents should be taxed at a rate of 100%. (b) in-kind services should be above and beyond generous income assistance. (c) no NIT plan would be flexible enough to sol
When line 0C0' shows the 1975 U.S. income distribution, in that case the 2005 income distribution would most likely be most probable: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.
Assume a neither firm possessing both the monopsony power as an employer and the market power in its output market, however which can neither wage discriminate nor price discriminate. In the equilibrium in its labor market for workers, of the given va
Present market demands for most of the durable goods tend to rise if: (1) Their prices are predicted to rise in the near future. (2) Consumers expect growth in supplies of substitutes. (3) Technological advances make present models obsolete. (4) The p
State the main function of money in economy? Answer: The major function of money in an economic system is to ease the exchange of services and goods.
Assume that no job vacancies exist for the taxidermists, which students lack any interest in taxidermy, and that taxidermy produces no externalities. When lobbyists persuaded college Boards of Trustees to need taxidermy courses and to establish Departments of Taxiderm
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