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.
When lower price outcomes in higher bread sales, this points out an: (i) Raise in the quantity of bread demanded. (ii) Raise in the quantity of bread supplied. (iii) Exception to the law of demand. (iv) Raised taste for bread. Can
When the number of textbooks sold falls/drops 10 percent whenever college tuitions double, textbooks and college enrollments are _____ goods and their cross-elasticity coefficient is mainly _____. (i) Superior; 5.0. (ii) Inferior; 10.0. (i
Thorstein Veblen is most particularly remembered for arguing that: (i) Consumer surplus is maximized by setting the marginal utility equivalent to price. (ii) National income [or NI] equivalents gross domestic product [or GDP] in circular flow model.
Ticket-scalpers allow latecomers to ignore standing into line for tickets and permit people to wait till the last moment before deciding to attend athletic or concerts events. Are promoters of an event harmed through scalping? Must ticket scalpers' services be free? S
Barriers to entry: (w) make this complicated or impossible for new firms to profitably enter an industry. (x) uniformly violate U.S. antitrust statutes. (y) are fundamentally technological instead of economic. (z) stimulate aggressive competition.
The labor union contracts, a comparable worth rule, or minimum salary laws might boost up equilibrium employment when a firm has been practicing: (v) Price discrimination. (w) Monopolistic exploitation. (x) Feather-bedding. (y) Blacklisting. (z) Monopsonistic exploita
When a purely competitive industry is into long run equilibrium, in that case a typical firm can: (w) earn normal accounting profit although only zero economic profit. (x) incur economic losses when these are offset by accounting prof
St. Valentine’s Day software is currently going in version of 6.0. At this point on the demand curve where the price elasticity of demand is unitary, there the price would be approximately: (i) $20, resulting in roughly 16 milli
I have a problem in economics on Labor Unions-Union membership. Please help me in the following question. The union membership is most widespread among: (1) White collar workers. (2) Managers and Supervisors. (3) Blue collar workers. (4) Young, upward
I have a problem in economics on Division of Labor. Please help me in determining the right answer from the following question. Shannon brewing an espresso drinks whereas Kelly bakes the croissants at their coffee shop are an illustration of: (i) Comp
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