walfare function expected utility,game theory and minimum an

#### Related Questions in Microeconomics

• ##### Q :Firms demand for labor Assume that the

Assume that the international auto industry has become monopolistically competitive and you run a small automaker. The events which would not directly influence your firm’s demand for labor comprise: (i) Sales of your company’s most admired car unexpectedl

• ##### Q :Problem on Labor Union Goals Can

The higher union wages would be least likely to pursue: (1) Higher union initiation fees. (2) Mandatory retirement programs

• ##### Q :Problem based on GDP Assume nominal GDP

Assume nominal GDP in the year of 2002 was \$100 billion and in the year of 2003 it was \$260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by: A) 160 percent. B) 44 percent. C) 37 percent. D) 1

• ##### Q :Quintile distribution of income Give

Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.

• ##### Q :Coefficient of elasticity of relatively

A relatively price elastic demand curve would consist of a coefficient of elasticity of as: (w) ep = 1. (x) ep > 1. (y) ep < 1. (z) ep

• ##### Q :Long run problem In long run , the

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• ##### Q :Income Elasticities of Demand Question:

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(a)  Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker's work is +0.4.  Compare the impact on pre-recorde

• ##### Q :Profit-maximizing firm at shutdown point

When MR exceeds both marginal costs and average variable costs at the recent rate of production, in that case a profit-maximizing firm will: (w) increase output. (x) decrease output. (y) have no incentive to change output. (z) be maximizing profits.

• ##### Q :Short-run equilibrium and long run

When a purely competitive industry is within equilibrium as well as all firms in the industry are operating along with economies of scale, in that case the industry is in: (w) long-run and short-run equilibrium. (x) short-run equilibrium and long run

• ##### Q :Sum of Monopolistic Exploitation Sum of

Sum of the monopolistic exploitation across all workers tends to rise however a firm as well functions at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (1) Blacklisting in its dea