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.
The profit-maximizing firm which is perfectly competitive in resource market however that consists of market power in output market will hire labor at the point where: (1) VMP=MRP=MFC>w. (2) VMP>MRP=MFC=w. (3) VMP = MRP = MFC = w. (4) VMP>MRP
When the rate of return on investment equals the interest rate, in that case investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible. Hey friends please give your opin
The Production possibilities frontiers are most probable to shrink when: (1) National income becomes less fairly distributed. (2) High-tech agriculture reduces jobs for migrant farm workers. (3) A 3-hour nuclear war blasts technology back to Stone Age
The union shop agreement needs that the worker: (1) Join the labor union prior to beginning to work. (2) Pay union dues even when selecting not to join union. (3) Join the union soon subsequent to being hired. (4) Freely select to join or not join union.
Into the long run, interest rates depend LEAST upon the: (1) premiums needed to induce savers to delay consumption. (2) premiums necessary to induce wealth holders to sacrifice liquidity. (3) productivity of new capital. (4) demands and supplies of lo
The bilateral monopoly is in operation when: (i) Firm is the only employer of the certain labor force and a union is just the supplier of the labor for that organization. (ii) The firm is the mere producer of the two complementary goods. (iii) The monopolist sells a g
A profit maximizing monopoly which does not price discriminate will not: (w) produce in the elastic portion of the market demand curve. (x) experience raised total revenue when it reduces the price. (y) equate marginal revenue and mar
I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. The eventual owners of all resources and products in the society are as follows: (i) households. (ii) Firms. (iii) The tax-paying public. (iv
Can someone help me in finding out the right answer from the given options. The signals for sellers to lower the market price comprise: (i) Fast depletion of goods from the retail store shelves. (ii) Producers encompass more orders than they can hold.
Entry of new firms within a monopolistically competitive market: (1) is preventable. (2) may decrease the established firm’s production costs. (3) increases the established firm’s profits. (4) shrinks demand for a successful firm’s p
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