Production function
Describe three properties of a variable proportions production function that make sure that it allow profit maximization and cost minimization.
Choose microeconomic statement from following A) The real domestic output increased by 2.5 percent last year. B) Unemployment was 6.8 percent of the labor force last year. C) The price of personal computers declined last year. D) The general price level increased by 4
‘In developing countries there are some controls on aspects of pollution like exhaust fumes. How would you evaluate whether these countries, from their point of view, must invoke legislation to enhance the atmosphere in these respects?’
Give the answer of following question .Tell examples of command economies: A) the United States and Japan. B) Sweden and Norway. C) Mexico and Brazil. D) Cuba and North Korea.
Federal agricultural subsidies tend to be rapidly: (w) spent because most farmers lack sufficient budgeting skills. (x) capitalized in higher prices for farm land. (y) slashed while pressure mounts to cut the federal deficit. (z) absorbed from rising
The consumer who spends income and hence the ratio of MUs of all goods purchased equivalents the ratio of their prices is: (i) Maximizing net utility. (ii) Spending too much. (iii) Beyond the point of diminishing negative utility. (iv) Behaving incompatibly through pu
When demand for a consumer good is relatively price inelastic, in that case the: (i) total spending of consumers will decline when the price rises. (ii) demand curve is linear and vertical. (iii) price of the good is determined through supply alone. (
Can someone help me in finding out the right answer from the given options. The Moral hazards which produce shirking by employees can be partly remedied when firms adopt the policies of: (1) Efficiency salaries. (2) Hierarchical signaling. (3) Careful screening throug
Why do some people think that a mixed economic system resolves essential economic problems?
Evalute the statement. Generally People buy clothing in the city where they live. Therefore there is a clothing market in, say, Atlanta that is distinct from the clothing market in Los Angeles. This statement is tr
Clark pays $99.95 for the latest fishing rod. When Clark was willing to pay just a maximum of $99.95 for that fishing rod, his consumer surplus equivalents: (1) zero. (2) Clark would not be willing to buy the fishing rod at $99.95. (3) $99.95. (4) Clark would be bette
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