utility function
notes on separable utility function in microeconomics
Casual surveys of students at the starting of each semester reveal an amused although overwhelming maintain for a proposal to increase the legal minimum wages of graduates from college to $50,000 yearly. They supposed our proposal was facetious. But a
Within increasing-cost industries average there are: (w) production costs fall as output increases. (x) production costs rise as the number of firms in the industry grows. (y) production costs rise when the number of firms into the industry falls. (z)
Suppose the market for exercise equipment is primarily in equilibrium, and after that the government places a subsidy upon the exercise equipment. The probable result would be: (1) increased production and purchases of exercise equipment. (2) that buy
Owners of corporate stock obtain pure economic profit only to the extent which the rates of return realized by owning the stock exceed the: (1) interest rate that would have been produced by other investments entailin
Elasticity of Supply: The law of supply states us that quantity supplied will react to a modification in price. The notion of elasticity of supply elucidates the rat
Describe the likely behaviour of total product beneath the phase of increasing return to a factor.
Is import of machinery recorded in capital or current account? Answer: It is recorded in current account since it deals as the purchase of goods.
In the year of 1996 McDonald's introduced its Arch Deluxe hamburger, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of: A) consumer sovereignty. B) technological change. C) downsloping demand
Which kind of revenue receipts are considered as legally compulsory payment imposed on people by the government? Give illustration also. Answer: Taxes imposed on th
Maintenance of monopoly power is improved by: (1) natural barriers to entry. (2) large economies of scale. (3) artificial barriers. (4) legal barriers to entry. (5) All of the above. Hello guys I want your advice.
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