walfare function expected utility,game theory and minimum an
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Can someone help me in finding out the precise answer from the given options that when a fixed level of national income becomes appreciably less evenly distributed as the numbers of relatively poor people and relatively prosperous people both raise dr
Economists can’t conceive of any resource or product for that the: (1) price elasticity of demand is zero and the demand curve is vertical. (2) price elasticity of supply is zero and the supply curve is vertical. (3) income elasticity of demand
What is meant by Excess demand in macro economics: In macro economics, if aggregate demand is greater than aggregate supply at full employment level, then there is excess demand.
How purely competitive industries respond to raises in market demand depends upon: (w) the time period considered. (x) immediate quantity adjustments and longer run price adjustments. (y) each firm’s average total costs. (z) the slope of the mar
For U.S. families official poverty rates are: (w) higher than in most other countries. (x) very similar for different types of families. (y) higher for the middle class than for lower class families. (z) lower than in most other countries if poverty i
Can someone please help me in finding out the accurate answer from the following question. Even a moderate minimum wage law influences labor markets by causing the unemployment of: (1) Unskilled workers when the labor market is per
When total revenue to a firm is uninfluenced by small price changes, in that case demand is: (1) relatively price elastic. (2) relatively price inelastic. (3) unitarily price elastic. (4) vertical. (5) horizontal.
If business taxes are decreased and the real interest rate increases: A) consumption and saving will necessarily increase. B) the level of investment spending might either increase or decrease. C) the level of investment spending will necessarily increase. D) the leve
The Department of the Census explains low relative income as experienced while families: (w) lack sufficient income to buy the fundamental food clothing and shelter required for survival. (x) would like to improve the
Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo
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