Separable utility function
One of my friends can't find the answer of this question. Give answer of following economic based question. Tell me about strongly separable utility function?
When heroin were legalized in that case: (w) its price would fall and fewer addicts would connect in crime to support their habits. (x) the attractiveness of becoming a supplier would increase. (y) more people might experiment along with the drug since the price is re
When your income is positively and closely tied to the price of a specific product, a raise in its price might cause: (1) The income effect which, in severe conditions, yields a positively sloped demand curve. (2) You to go bankrupt. (3) The powerful positive substitu
When no goods generate external costs or benefits within their consumption or production and when the income distribution is deemed acceptable, in that case economic efficiency is promoted through: (w) government inte
This profit-maximizing firm as in demonstrated figure will set a price where: (1) P > MC = MR. (2) MR > MC = P. (3) MR = P > MC. (4) MR = P > MC. (5) P < MC < MR. Q : Techniques of how to produce Techniques Techniques of how to produce?: Broadly, there are two main methods of production. (i) Labour intensive Technique: Under this method, production depends mostly on the
Techniques of how to produce?: Broadly, there are two main methods of production. (i) Labour intensive Technique: Under this method, production depends mostly on the
The social value of additional output from the additional units of labor is as: (1) Marginal revenue product [or MRP] of labor. (2) Wage rate or price of the labor. (3) Average revenue product [or ARP] of labor. (4) Value of marginal product [or VMP] of labor. (5) Mar
When both sellers and potential buyers suppose prices for rider lawn mowers to raise as summer approaches, in that case throughout March and April (in the short run), the equilibrium: (w) price falls but quantity changes are ambiguous. (x) price rises
When a change in the supply of a good causes a percentage change within price which exceeds in absolute value the resulting percentage change within quantity demanded, then demand is relatively: (1) price elastic. (2) inferior. (3) no
Entry of new firms within a monopolistically competitive market: (1) is preventable. (2) may decrease the established firm’s production costs. (3) increases the established firm’s profits. (4) shrinks demand for a successful firm’s p
When the price of plastic moose heads increases from $25 to $35 and monthly sales drop by 2000 units to 1000 units, by using the arc elasticity formula, in that case their price elasticity of demand equals: (w) 1/3. (x) 3.0. (y) 2.0.
18,76,764
1927191 Asked
3,689
Active Tutors
1424310
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!