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1. What is law of diminishing marginal utility?
2. Find out the marginal utility for the following schedule of consuming pizza
Pizza consumed
0
1
2
3
4
5
6
7
Total Utility
20
28
34
38
40
3. Explain briefly the Utility maximizing Rule.
4. How the demand curve can be derived from the utility Maximizing Rule?
5. What is income and substitution effect?
If a social entrepreneur is relying on contributions, are there not risks in being accountable and using that money wisely?
Compare Classical economic theory to Keynesian economic theory. Which approach, if either is the US currently applying and what have been the effects of such policies?
What is income generation process
Explain why anti-trust legislation supports a perfectly competitive market. Give at least one specific example of legislation to justify your explanation.
A budget deficit is defined as: A. accumulated surpluses minus accumulated deficits. B. a shortfall of revenues compared to expenditures. C. accumulated deficits minus accumulated
Compute the following probabilities a) If Y is distributed N(1,4) find Pr(y ? 3) b) If Y is distributed N(3,9) find pr(y>0) c) If Y is distributed N (50,25) find pr(40?Y?5
Economist mark Edward the multiplier effect of Alaska trade to Japan another 600 million is added to the state economy for Japanese recovery, associated press and local wire June 2
What is money wage rate While the money wage rate or nominal wage rate is the hourly wage rate calculated in money that a worker receives for supplying labour, the real wage r
A company is considering investing in power generation. It wants to setup a 1000 MW power generation system. The company hired you as a consultant to explore different options for
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