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.
Not learning the whole thing possible regarding someone prior to you marry them is an illustration of: (i) Adverse selection. (ii) Moral hazard. (iii) Economic dishonesty. (iv) Blind indifference. (v) Rational ignorance. Choose the
As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (i) MPPL = VMP. (ii) The price of output surpasses MFC. (iii) Monopolistic exploitation becomes essential to get profit. (iv) Imperfect competition can’t reach the eq
The Asymmetric information on quality can outcome in: (i) Not all potential profits from the exchange being realized. (ii) Lower equilibrium prices. (iii) Purchases of unexpectedly low-quality items termed as ‘lemons’. (iv) Some transactio
When income elasticity of market demand is minus 1 (one), the good is: (w) average good. (x) intermediate good. (y) inferior good. (z) "image" good. How can I solve my economics problem? Please suggest me the corre
Can someone help me in finding out the right answer from the given options. When firms function in purely competitive labor markets that produce a fixed money wage of w, then firms maximize profit by hiring the labor where w = the
The time people focus upon politics and government policies tends to be income elastic. Nonetheless, high wage rates raise the opportunity costs of voting. Mutually, these facts suggest that, which relative to wealthier or higher-income people and low
Profit is maximized as in illustrated graph when this purely-competitive lumber mill produces at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point e. Q : Problem relating to Moral Hazard When When insurance companies pay back insured individuals for all the medical bills they submit: (1) Hypochondria will tend to be cured very rapidly. (2) People would tend to frequent the doctor's office more frequently. (3) An immoral choice problem would foster underuti
When insurance companies pay back insured individuals for all the medical bills they submit: (1) Hypochondria will tend to be cured very rapidly. (2) People would tend to frequent the doctor's office more frequently. (3) An immoral choice problem would foster underuti
Beth and Anna each own a florist shop. After many years of rivalry, they make a decision to team up and make a partnership. The potential advantage of such a union would be that: (1) They can divide up duties and become more proficient. (2) Their partnership profits n
Hey friends I need your suggestion for this query about the profit and losses as illustrated graph when this firm produces q2 output, in that case its: (w) MR > MC. (x) MR < MC. (y) MR = MC. (z) P > MC.Please give me right answer for the same.
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