Relationship between Total utility and Marginal utility
Describe the relationship between Total utility (TU) and Marginal utility (MU)? Answer: a) TU rises at diminishing rate whenever MU is declining and Positive. b) TU is maximum whenever MU is 0 (Zero).c) Whenever MU becomes Negative, TU refuses.
Describe the relationship between Total utility (TU) and Marginal utility (MU)?
Answer:
a) TU rises at diminishing rate whenever MU is declining and Positive. b) TU is maximum whenever MU is 0 (Zero).c) Whenever MU becomes Negative, TU refuses.
Every firm which can considerably influence the price of its output: (i) is a pure monopoly. (ii) will be more profitable than any firm in pure competition. (iii) has market power: (iv) is essentially large relative to the market demand curve facing the firm. (v) has
Name the Canada’s top three trading partners?
Paradise Planners sold deluxe Hawaiian winter vacation’s 170 packages at a price of $1900, although only 130 tourists signed up while the price increased to $2100. Such Hawaiian vacations have a price elasticity of demand approximately equal to:
why is marginal revenue product=marginal resource cost a formula for profit maximization?
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
For water the price elasticity of demand is: (w) low since the price is high. (x) high since the price is high. (y) high since there are few substitutes for water. (z) low since this has few substitutes and a low price. Q : Supply geomeric method to measure geomeric method to measure elasticity of supply
geomeric method to measure elasticity of supply
Nominal interest rates are: (w) always identical to real interest rates. (x) the percentage of monetary premiums paid per time era for the use of money. (y) determined by the size of economic rents. (z) the percentage of purchasing power transferred b
If a firm attempts to drive rivals from its market and after that raises prices and adopts a strategy to deter entry, this is exhibiting: (w) grim strategy. (x) tit-for-tat strategy. (y) predatory behavior. (z) Nash equilibrium. Q : Define opportunity cost Opportunity Opportunity cost: The Opportunity cost refers to the cost of next best alternative inevitable.
Opportunity cost: The Opportunity cost refers to the cost of next best alternative inevitable.
18,76,764
1954784 Asked
3,689
Active Tutors
1447373
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!