utility function
notes on separable utility function in microeconomics
‘In developing countries there are some controls on aspects of pollution like exhaust fumes. How would you evaluate whether these countries, from their point of view, must invoke legislation to enhance the atmosphere in these respects?’
is the price in the law of demand an absolute price or a relative price
Relationship between MPS and multiplier:K=1/1-MPC = 1/MPS or inverse relationship between MPS and the size of multiplier.
The price a firm acquires from selling an extra unit of output, minus any revenue lost when price should be reduced in all other units sold, equals: (1) average revenue. (2) marginal profit. (3) mark-up price. (4) marginal revenue. (5) total revenue.<
Differentiate between planned and actual saving and investment. Answer: There is a big difference between (a) planned S and I and (b) Actual saving and investment.<
In short run, the increase in supply takes place whenever the: (1) Supply curve shifts upward and to left. (2) Preferences of consumers change in a positive direction. (3) Market price raise. (4) Amounts producers make accessible rise at each and every price. (5) Publ
Purely-competitive markets are NOT characterized through: (i) substantial barriers to entry and exit. (ii) many small potential buyers. (iii) many small potential sellers. (iv) homogeneous products. (v) zero long-run economic profits. Q : Market in terms of economists To To economists, the noun ‘market’ signifies to: (1) The geographic place where many products are sold. (2) Any institution which enables sellers and buyers to strike bargains. (3) The New York Stock Exchange. (4) Selling goods and resources or stocks and bo
To economists, the noun ‘market’ signifies to: (1) The geographic place where many products are sold. (2) Any institution which enables sellers and buyers to strike bargains. (3) The New York Stock Exchange. (4) Selling goods and resources or stocks and bo
What does “buying on margin” means?
When an increase in demand arises at similar time as a decrease in supply, in that case equilibrium price: (w) falls, and equilibrium quantity is unsure. (x) increases, and equilibrium quantity is uncertain. (y) remai
18,76,764
1929751 Asked
3,689
Active Tutors
1423731
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!