The household budget constraint may have a kink because
A) there is uncertainty.
B) households prefer diversity.
C) households may substitute consumption for leisure, or the reverse.
D) leisure is limited by the number of available hours.
D
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What is the difference between economic efficiency and equity?
What will be an ideal response?
An advantage of the decision tree is that
A) it eliminates the need for calculating the cost of capital. B) it eliminates the need for calculating probabilities. C) it causes the analyst to consider important events that may occur in the course of the project, and decisions and actions that may have to be undertaken. D) All of the above
A merger between two firms that have a supplier-purchaser relationship is:
a. horizontal. b. vertical. c. conglomerate. d. illegal. e. inefficient.
According to below graph, what is the marginal utility of the second slice of pizza?
a. 10
b. 8
c. 6
d. 4