Why indifference curve is convex
Why the indifference curve is convex to origin?
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The Indifference curve is always convex to the origin due to diminishing marginal rate of substitution.
When the income distribution is acceptable and no externalities survive, purely competitive market demand curves as: (w) also marginal social benefits curves. (x) inverted marginal social cost curves. (y) horizontal at the market pric
Describe the likely behaviour of total product beneath the phase of increasing return to a factor.
The present value of an annual income stream which goes onto forever is: (w) infinite. (x) zero. (y) the annual income multiplied through the interest rate. (z) the annual income divided through the interest rate.
When do we state that there is an excess demand for a commodity in the market?
The influence of high street chains selling very limited editions of designer clothes at much below equilibrium prices.
The non-discriminating organization with monopsony power in the labor market confronts the: (i) Wage rate which consistently surpasses the marginal revenue. (ii) MRP less than w. (iii) MFC which surpasses w. (iv) Monopolistic seller of the organization’s output.
State economic arguments on whether a football club must sell a significant player?
Can someone please help me in finding out the accurate answer from the following question. When average production costs reduce as the total production of a firm rises, the firm is experiencing: (i) Economies of the scale. (ii) Economies of scope. (iii) Diseconomies o
Give the answer of following question. For the firm, the major goal of profit sharing plans is to: A) force workers to incur some of the business risk. B) overcome the monopsony problem of having to pay higher wages to attract additional workers. C) overcome the princ
In the given figure as in below, demand curve D0D0: (w) has price elasticity of infinity. (x) is possibly for a luxury good. (y) is unitarily price elastic. (z) seems contrary to standard economic reasoning. Discover Q & A Leading Solution Library Avail More Than 1461157 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1942000 Asked 3,689 Active Tutors 1461157 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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