ordinal utility
In economics, what is ordinal utility and what are its assumptions
When any truly existed, then perfectly inelastic demand curves would include: (i) price elasticities of infinity and be horizontal. (ii) zero elasticity and be horizontal. (iii) a slope of one. (iv) price elasticities of infinity and would be vertical
When the annual interest rate is 12 percent and a rental house can be expected to rent perpetually for price of $1,000 monthly, in that case the house has a present value of approximately: (1) $240,000. (2) $144,000. (3) $100,000. (4) $72,000. (5) $12
The removal of exploitation of labor (or wage payments beneath the value to the society of each and every individual worker’s productive contribution) is automatic when business decision makers: (1) Should set wages via collective bargaining agreements by labor
Winning $50,000 yearly for 20 years is similar as winning: (w) $1 million today. (x) less than $1 million today. (y) more than $1 million today. (z) $100 per day, forever. Hello guys I want your advice. Please recommend some views
Natural barriers to entry within a market arise primarily by: (w) strategies by existing firms to discourage the entry of new firms. (x) perfectly inelastic demands for products. (y) the declining cost structure inherent in producing specific goods. (
The allocatively efficient price of a good by the vantage point of society is the price which equals the: (w) average social cost of producing this. (x) average variable cost of producing this. (y) total social cost of producing this. (z) marginal soc
Why is demand curve is beneath oligopoly indeterminate (i.e., uncertain)? Answer: Demand curve is indeterminate since of price war among sellers.
Revenue deficit in government budget: Whenever the revenue expenses of the government is more than the revenue receipts it is termed as revenue deficit Revenue expenditure > Revenue receipts
Can someone please help me in finding out the accurate answer from the following question. The higher union wages would be least likely to pursue: (1) Higher union initiation fees. (2) Mandatory retirement programs
When the Kroger grocery chain raises the price of Starbuck’s Frappuccino, in that case Safeway will remain its price the same. Although, if Kroger drops the price of Frappuccino, then Safeway will match the price cut. This kind of behavior conforms to the: (1) s
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