Can marginal utility be positive or negative but not zero? A consumer's utility is a function of consuming two commodities x and y: U = 12 x - y^2 + xy He faces a budget constraint that x + y = 100 This consumer wants you to help him maximize his utility. In ...
consumers from one country with a pool of products and services to choose from. These products could be cheaper when imported than when bought from local industries, or they are unavailable in their home country. Besides, international trade has been made possible by the eradication of tradi...
How a manager can apply these two concepts in management decision-making? Cost: Cost is defined as the financial value indicated on the services and commodities in the market and should be paid before acquiring them. Various types of costs in the economy i...
in a statement by the client (or some concerned group) that if only some alternative practice ("solution," in a sense) were in place, the world would be much better off. The analyst is charged with evaluating the merits of this supposition. For example, "If we'd had an up-to-date ...
One way to impress your customers is by introducing new features or offering extra value. These can greatly improve their experience and leave a positive impression, leading to higher customer retention in the end. Another way to improve stages is to evaluate the channels used in the customer jo...
Again, this had many and varied responses, both negative and positive. However, it should be noted that these are examples of appropriated culture, through fashion, music, etc. Ultimately, these were described as culture appropriation, which was manifested by globalization and induced by ...
Define the winner effect in regards to behavioral economics. Discuss the effect of the increase in savings of the households. Explain the effect on the amount of utility experienced with an increase in amount of budget. a. Using a graph to illustrate your an...
In economics, labor is subject to the laws of supply and demand. Learn about the labor market in economics. Explore scarcity in labor, review why CEOs make more money than teachers, and examine the impact of market forces on the labor market. Related...
At the competitive equilibrium with a positive proportional labor income tax A) the real wage after tax exceeds the marginal product of labor B) the real wage after tax equals the marginal product of What is the marginal revenue product in business and economics? Which assumption a...
How did the development of the nonbank, bank competitive strategy, further clarify the meaning of the term activities, closely related to banking? In a more general sense, how has this strategy assist Explain the given statement. Statistics ar...