utility function
notes on separable utility function in microeconomics
Supply is too elastic (contain a smaller coefficient) within the long run than in the: (w) short-run in competitive, constant-cost industries. (x) short-run in competitive, increasing-cost industries. (y) market period in virtually all industries. (z) All of the above
Relative to a requirements standard for distributing income, in that case the adoption of an equality standard would most likely tend to be: (w) unarguably fairer. (x) less bureaucratic. (y) more harmful to work incentives. (z) clearly less fair.
When transaction costs exist, in that case taxes on what appear to be pure economic rents to: (1) pose especially severe problems for economic efficiency. (2) may be inefficient since taxes reduce incentives to put resources to their
The supply of good increases from the perspective of buyers while: (1) the government subsidizes production of the good. (2) price ceilings limit rates of return on investment. (3) queuing replaces allocation based upon high prices. (
State SLR (or Statutory liquidity ratio): It is the ratio of net or total demand and time deposits of commercial bank that, it has to keep in the form of specified liquid assets.
Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be
The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an
A lower value for the Gini index tends to be related with: (w) increasing equality of the distribution of income or wealth. (x) decreases in the population’s total amount of income or wealth (y) increased on the whole curvature of the Lore
The monopsonist will hire labor till labor's marginal resource cost equivalents the: (p) The value of average product of labor. (q) Price of labor. (r) Marginal revenue product of labor. (s) Marginal physical product. Choose the ri
From roughly 1975 year, the proportion of the U.S. population into the Bureau of the Census category that is “middle relative income” where the “middle class’ has: (1) grown since many former u
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