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1. According to Marshall, the basis of consumer surplus is-
(A) Law of diminishing marginal utility (B) Law of equi-marginal utility
(C) Law of proportions (D) All of the above
2. For inferior commodities, income effect is-(A) Zero (B) Negative(C) Infinite (D) Positive
3. Which of the following is the second law of Gossen ?(A) Law of equi-marginal utility (B) Law of equi-product(C) Theory of indifference curve (D) Law of diminishing marginal utility
many critics however contend that the american recovery and reinvestment act of 2009 were not effective at all except
Is such a low bid unambiguously "good" for the local government? What potential risk does the government face? (In terms of the auctioning party's risk, how does a procurement differ from an auction sale?) How might the government protect itself f..
What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
Explain why the relationship between the prices charged to locals versus the prices charged to out of town visitors? Why does this happen?
Suppose the supply curve for a good is completely inelastic. If the government imposed a price ceiling below the market-clearing level, would a deadweight loss result? Explain.
Suppose a chocolate bar manufacturer promotes its products by advertising and opportunity to win a ‘free car’. Is this car free because the winner pays zero for it?
a new osha rule requires that welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel
Explain how the following events affect output, capital and consumption per unit of labor in the long run and along the transition according to Solow's Model:
Which of the following would shift the aggregate demand curve to the right?
Instead of asking for a price, you offer to give them the product in exchange for 50% of their cost savings. Describe the information asymmetry, the adverse selection problem, and why soft selling is a successful signal.
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1. consider a country in which there are 2 sectors called sector 1 and sector 2. the production functions and the
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