social welfare function
what do you mean by a social welfare function? if you assume that such a function exists, what properties of social optima would be considered by you? discuss such properties.
The area below a resource’s price line although above its supply curve is: (w) consumer surplus. (x) monopoly profit. (y) excess value. (z) economic rent. Can anybody suggest me the proper explanation for giv
Firm A has no costs of production and sells its products to just two buyers. The buyers (1 and 2) have the following demand functions: P1 = 90 -10q1 P2 = 60 - 5q2 (a) Assuming that the rm can engage in third degree price discrimination, nd the
The competitive workings of the market for soy beans would be distorted when: (1) Europe experiences a severe drought and has paltry harvests this year. (2) Ethiopia imports soy beans to feed its hungry masses. (3) the U.S. imposes a soy bean embargo forbidding export
In constant-cost, the purely competitive industries: (w) total cost is constant at every output. (x) marginal cost is constant at each output. (y) number of firms is constant at every output. (z) long-run supply price is uninfluenced by output. <
The elasticity of demand equals one and consumer spending upon Robot Butlers (there is the firm’s total revenue), is at a maximum at a price of as: (1) $20,000. (2) $15,000. (3) $10,000. (4) $5,000. (5) zero. Q : Economic growth Give the answer of Give the answer of following question. Economic growth is best defined as an increase in: A) either real GDP or real GDP per capita. B) nominal GDP. C) total consumption expenditures. D) wealth in the economy.
Give the answer of following question. Economic growth is best defined as an increase in: A) either real GDP or real GDP per capita. B) nominal GDP. C) total consumption expenditures. D) wealth in the economy.
For a family of four the break-even level of income under the negative income tax system demonstrated in this figure is: (1) $15,000 per year. (2) $30,000 per year. (3) $45,000 per year. (4) $60,000 per year. (5) $75,000 per year.
Graduate Level Problem Set. First question is in relation to the article the Population Problem: Theory and Evidence by Partha Dasgupta.
Excess demand: If AD > AS at the full employment level. Then it is termed as Excess demand.
Opportunity costs and prices tend to be decreased by: (w) competition among speculators and other intermediaries. (x) price floors. (y) the exercise of monopoly power. (z) price ceilings. How can I
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