utility function
notes on separable utility function in microeconomics
The three reasons for downward slope of a demand curve are: (1) Diminishing marginal utility, income effect and the substitution effect. (2) Scarcity, tastes & preferences, and purchasing power. (3) Opportunity costs, rational decision making and
Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50 Q : Economic profit at average total cost When a monopolist maximizes profit with producing where average total cost is on its minimum, this: (w) should generate an economic profit. (x) should sell at a price equal to marginal cost. (y) will incur an economic loss. (z) will p
When a monopolist maximizes profit with producing where average total cost is on its minimum, this: (w) should generate an economic profit. (x) should sell at a price equal to marginal cost. (y) will incur an economic loss. (z) will p
The real market rate of interest will increase when there is an increase into: (w) pessimism on the parts of investors. (x) willingness to hold illiquid assets. (y) total capital stock relative to national output. (z) households’ desires to cons
Elasticity of Demand: The law of demand elucidates that demand will change due to a change in the price of the commodity. However it does not elucidate the rate at w
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
Compared to other relatively prosperous developed nations, the United States: (w) has greater inequality in the distribution of its wealth and national income. (x) enjoys the lowest cost medical care and the best average public health. (y) has been the most aggressive
What happens to equilibrium price if increase in demand is equivalent to increase in supply? Answer: In case of equivalent increase in demand and supply the equilib
The interest rate will most likely rise when: (1) households decide to delay consumption, causing the loanable funds accessible for business investments to raise. (2) investors become more optimistic into relation with the profitability of investment.
I have a problem in economics on Craft Unions problems. Please help me in the given question. The craft unions arrange all the workers: (i) In a given industry or firm, despite of skill or craft. (ii) In a specified craft, even when they work for dist
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