Meaning of utility
For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.
In economic theory of production: (1) Average fixed costs equally drop as the capacity of firm rises. (2) Technology can be varied wholly. (3) The choices available to firm raise as longer periods are considered. (4) Firms which do not cover all the h
Financial institutions make possible economic efficiency primarily since: (w) laissez faire markets handle asymmetric information poorly. (x) corporate ownership must be stabilized. (y) they channel funds from agents along with surplu
Purposes for the very low price elasticity of demand for salt do not comprise the fact such that this: (w) has few good substitutes. (x) is currently relatively low priced. (y) absorbs only small percentages of most household budgets. (z) is sodium ch
Deriving a production possibilities frontier needs the supposition that: (1) Resources are variable in the supply. (2) There are limitless numbers of goods. (3) Economic growth takes place at a normal rate. (4) All scarce resources are proficiently em
The Diamante Corporation is vast and owns the world’s merely red diamond mine. Thus diamante monopolizes the market for red diamonds, and this is protected by competition by a: (1) regulatory barrier to entry. (2) strategic barrier to entry. (3) natural barrier
is price in the law of demand an absolute or relative price
A firm which cannot price discriminate although which faces a negatively-sloped demand curve for output: (1) has a marginal revenue curve which is always below which demand curve. (2) will never knowingly produce at a level of output where the price e
The equilibrium price for Christmas trees in the short run is: (w) P1. (x) P2. (y) P3. (z) P4. Q : Nominal interest rates in market Nominal interest rates are most largely and directly determined within markets for: (1) loanable funds. (2) newly issued stock. (3) foreign exchange. (4) securitized assets. (5) long term government bonds. Please c
Nominal interest rates are most largely and directly determined within markets for: (1) loanable funds. (2) newly issued stock. (3) foreign exchange. (4) securitized assets. (5) long term government bonds. Please c
Can someone please help me in finding out the accurate answer from the following question. The business vice president employs company money to furnish an excessively plush office. This is an illustration of: (1) Corporate surplus in America. (2) The principal-agent p
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