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- The budget allocation rule states
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Card 8 / 15: The budget allocation rule states that
A)
the marginal utility of x equals the marginal utility of y at maximum utility
B)
the marginal utility of x divided by its price be equal to marginal utility of all other goods divided by their prices
C)
the marginal utility of x equals the marginal rate of substitution of x for y
D)
the ratio of prices of x to y be greater than the ratio of marginal utility of x to the marginal utility of y.
Answer:
B) the marginal utility of x divided by its price be equal to marginal utility of all other goods divided by their prices
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Questions & Answers
Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
can you send the book attached ?
Ariel
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2
find mu of x for y
U(x,y) = (xÃy)1/2
find mu of x for y
Desalegn
this is the study of how the society manages it's scarce resources
Belonwu
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
difference between firm and industry
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from
Qd 120 3P
to
Qd 90 3P
and the supply function has shifted from
QS
20 2P
to
QS
10 2P .
a) Find the effect of this change on price and quantity.
b) Which of the changes in demand and supply is higher?
explain standard reason why economic is a science
factors influencing supply
scares
means__________________ends
resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Why qualify 28 supplies
Milan
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
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