Properties about peoples preferences

Assignment Help Business Economics
Reference no: EM13854054

Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?

Reference no: EM13854054

Questions Cloud

Explain-using the isoquant-isocost diagram : Explain, using the isoquant-isocost diagram, why a rise in the rental rate of capital coupled with no change in the wage rate will lead to a rise in the price of the capital-intensive good relative to the price of the labor-intensive good.
Explain what is meant by a zero-sum game : Explain what is meant by a zero-sum game, and why it was central to Mercantilist thinking. Then, explain how Smith's idea of absolute advantage altered the nature of the "game."
Initial consumer equilibrium position : Suppose that, from an initial consumer equilibrium position, the price of one good falls while the price of the other good remains the same. Using indifference curve analysis, explain how and why the consumer's relative consumption of the two goods w..
Source documents provide the input for the accounting proces : Source documents provide the input for the accounting process
Properties about peoples preferences : Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?
What is your principle interest and balance : You are purchasing a home for $200,000 with a 20% down payment. What is your principle, interest and balance of the 12th and 60th payment?
Certain cash flow sequence : You were told that a certain cash flow sequence started at $3000 in year 1 and increased by $2000 each year. How many years were required for the equivalent amount worth of sequence to be $12000 at an interest rate of 10% per year?
Trade took place between the two countries : Suppose that the K/L ratio is higher in Germany than in Britain. What would you expect to happen to wages in Germany as trade took place between the two countries? Why?
Manufactures ultrasonic wind sensors invested : A company that manufactures ultrasonic wind sensors invested $1.5 million, 2 years ago to acquire part ownership in an innovative chip-making company. How long would it take (from the date of the initial investment) for its share of the chip company ..

Reviews

Write a Review

Business Economics Questions & Answers

  Which factor characterizes the competitive relationship

A firm's cost-reduction strategies may span multiple stages, from acquisition of production input factors to product service and maintenance. When seeking to lower cost in the short term, firms should

  What is nick mrs of swimming in terms of basketball

What is Nick’s MRS of swimming in terms of basketball? Do his indifference curves exhibit diminishing MRS or constant MRS?

  Figure plots the average farm prices of potatoes

The following figure plots the average farm prices of potatoes in the United States for the years 1989 to 1998 versus the annual per capita consumption. Each point represents the price and quantity data for a given year. Explain whether simply drawin..

  Find out the demand function

A manufacturer has been selling 1600 television sets a week at 370 dollars each. A market survey indicates that for each 36 dollars rebate offered to the buyer, the number of sets sold will increase by 60 per week. Find out the demand function.

  Best description of zero-day vulnerabilities

Select the best description of zero-day vulnerabilities. Support your choice by describing why your choice is the best description.

  Derive also graph the mc function

Derive also graph the MC function. Conclude the cheapest way to produce 20 units. Conclude the cheapest way to produce 12 units.

  Which project offers larger net benefits

A town’s recreation department is trying to decide how to use a piece of land. One option is to put up basketball courts with an expected life of eight years. Another is to install a swimming pool with an expected life of 24 years.

  Qa consumer who conforms to the von neumann morgenstern

q.a consumer who conforms to the von neumann morgenstern axioms is faced with four situations a b c d. he prefers a to

  Creation of the interstate commerce commission

What were the elements behind the successful acceleration of industrialization after 1865. What were factors that caused ex-slave states in the south lag behind the north in participation in this acceleration of industrialization?

  Advantages and disadvantages of using divisional profit

Discuss the advantages and disadvantages of using divisional profit as the basis of incentive compensation for division managers compared to using company profit as the basis.

  Who in the us government is responsible for computing

Who in the U.S. government is responsible for computing also reporting the consumer price index.

  Explain what is nurd equilibrium level of income

Explain what is Nurd's equilibrium level of income. Explain what is likely to happen in the coming months if the government takes no action.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd