utility function
notes on separable utility function in microeconomics
I have a problem in economics on Monopolistic Exploitation-Demand for Labor. Please help me in the following question. The monopolistic exploitation is exercised if the employment equilibrium for a firm involves: (i) MRP > MFC. (ii) Paying the work
For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems
Which of the given two statements involves positive economic analysis and which normative? How do the two type of analysis differ?a. Gasoline rationing (allocating to each year to each individual an annual maximum amount of gasoline whi
I have a problem in economics on Founder of Utilitarianism. Please help me in the following question. The utilitarianism founder in England was: (i) Rupert Brooke. (ii) Jeremy Bentham. (iii) Thomas Dewey. (iv) John Stuart Mill. (v) Adam Smith. Q : Chance for arbitrage Normal 0 false Normal 0 false false
Normal 0 false false
When the price elasticity of demand for Japanese cars is higher within Europe than into the U.S. and transportation costs are very similar, relative to the price charged in Europe, there the price a discriminating Japanese carmaker wo
Critics of negative income tax (NIT) proposals most generally argue that: (a) economic rents should be taxed at a rate of 100%. (b) in-kind services should be above and beyond generous income assistance. (c) no NIT plan would be flexible enough to sol
A monopolist who does not price discriminate, that is: (w) cannot maximize profit by producing where demand is unitarily elastic. (x) will maximize profit where demand is unitarily elastic when all costs are fixed. (y) will maximize profit where deman
A purely-competitive, short-run equilibrium does NOT need which each firm: (w) produces where MC = MR = P > min(AVC). (x) experiences no excess demand or excess supply. (y) earns only zero economic profit. (z) adjust output hence m
A supply curve which is: (i) vertical is perfectly price elastic. (ii) horizontal is perfectly price inelastic. (iii) linear and goes through the origin has a price elasticity of one. (iv) rectangularly hyperbolic is also unitarily elastic. (v) trapez
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