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Define marginal utility. Explain the law of diminishing marginal utility. Why is marginal utility more useful than total utility in consumer decision making?
500 Words.............
Show that if the food stamps could be legally re-sold, the welfare of the household would be increased. Give one reason why food stamps should not be re-sold.
If there is a permanent adverse supply shock
Movies are distributed in a variety of forms, not just first run theatrical presentations. What other ways are movies distributed. What are the different price points.
You have decided to purchase a home after graduation, and you are saving for the closing costs ($3500) and down payment. To avoid paying mortgage insurance and to get a better interest rate, you need a down payment of 20%. You can afford a monthly pa..
Compute the equilibrium level of income. Sketch this equilibrium position using a two-dimensional graph.
Using production theory as a basis, is the CEO correct in his assumption that lazy workers or ineffective supervisors are to blame for the decline in productivity? What other explanations might be possible?
The "interest-only" mortgage typically converts later to a:
Illustrate what cost should each industry charge if it wants to maximize its profit. Why are costs and output of industries 1 and 2 same however different for industry 3.
The method used to prepare the budget can also affect the amount of time it takes to complete the budget. For example, companies that use participative budgeting will likely take longer to complete the budget process. What is participating budgeting?..
q1. during the purchasing decision evaluation stage the consumer forms preferences among the brands in the choice set.
In 10 years from now, you want your investment to be able to be worth $50,000. To the nearest dollar, how much must you invest now in an account that will earn 10% compounded annually?
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275. If e..
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