utility function
notes on separable utility function in microeconomics
“Wedges” in between demand and supply curves are generated by: (1) arbitragers and speculators. (2) intermediaries and transaction costs. (3) development in the level of national income. (4) politicians who enact laissez f
Describe deficient demand in an economy? Determine its impact on output, employment and price? Answer: Deficient demand terms to the condition when aggregate demand
An approximate estimate of the price elasticity of demand is best computed by the absolute value of the formula: (1) change in P / change within Q. (2) % change in Q / % change in P. (3) % change in Q / % change in income. (4) % chang
Government payments generally provided into European nations which are roughly sufficient to feed and clothe each child within a family are parts of programs termed as: (w) Family Allowance Plans [FAPs]. (x) negative income taxes [NITs]. (y) indigent subsidy plans [IS
In this kinked demand curve model as in given graph, when this firm operated at point a and lowered its price by P2 to P1 and other firms in the industry also lower prices, in that case this firm will move from point a to: (w) po
Can someone help me in finding out the right answer from the given options. The major benefits of the corporate form of business comprise: (i) Limited liability of owners. (ii) Better access to the markets for financial capital. (iii) The corporation is not dissolved
Price elasticities of supply and demand do NOT: (w) reflect desperation for goods and customers by buyers and sellers, respectively. (x) rise as the time period considered is expanded. (y) find out the economic incidence of a tax. (z) find out the leg
Purely competitive firms regulate to the optimum size within the long run since: (w) managers are more interested in efficiency than profit. (x) entrepreneurs want to do what is good for society. (y) entry and exit generate long-run equilibrium where
To compute the market demand for air-filled mattresses, add up the: (i) Amounts demanded at each and every price. (ii) Amounts supplied at each and every price. (iii) Demand prices at each and every quantity. (iv) Supply prices at each and every quant
Within this kinked demand curve model, when this firm operated at point a and increased its price from P2 to P3 but other firms did not increase their prices, in that cases equilibrium for this firm would move to be: (w) point b.
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