ordinal utility
In economics, what is ordinal utility and what are its assumptions
Rises in the legal minimum wage rate have not been blamed for rising: (i) Unemployment among the teenagers. (ii) Racial discrimination in the employment. (iii) Unemployment among trained workers who have lost their jobs since of competition from the cheaper imports. (
Increased market demand for generic 2×4s as in demonstrated graph would result within a(n) ___________ within the price of 2×4s as well as a(n) ___________ into this lumber mill’s profit-maximizing output.: (w) increase; decrease. (x
Your construction company just bought a bulldozer on credit. From the viewpoint of your company, this bulldozer is an illustration of: (i) Liability. (ii) Fixed costs. (iii) Net variable cost. (iv) Capitalization. (v) Economic capital. Q : Cost conditions and market demand curve The fact that a firm along with market power adjusts output depending upon both cost conditions and the features of the market demand curve means that: (w) the amount which a monopolist produces tends to be more volatile than the outp
The fact that a firm along with market power adjusts output depending upon both cost conditions and the features of the market demand curve means that: (w) the amount which a monopolist produces tends to be more volatile than the outp
I have a problem in economics on Resolving principal-agent problems. Please help me in the following question. Attempts to resolve the principal-agent problems among stockholders and top corporate managers (that is, CEOs) comprise: (i) Profit-sharing systems for the t
The most important reform / revision of the welfare system within the past half century occurred throughout the administration of President as: (1) Richard Nixon [1971]. (2) Jimmy Carter [1978]. (3) Ronald Reagan [1984]. (4) Bill Clinton [1996]. (5) G
Whenever someone paying for the service can’t completely monitor the behavior or aims of the person offering the service, there are potential inequities and inefficiencies caused by the: (1) Moral hazard. (2) Adverse selection. (3) Utilitarianism. (4) Principal-
Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.
In the year of 1996 McDonald's introduced its Arch Deluxe hamburger, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of: A) consumer sovereignty. B) technological change. C) downsloping demand
Numerous big publishing companies refused to publish a horror novel since the author was nameless. The author ultimately found a small publishing house to publish his book. The book sold millions of copies and produced hundreds of thousands of dollars in total revenue
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