What are consumers assumed to maximize? What are some constraints under which this maximization takes place? Describe
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
In microeconomic theory consumers are assumed to maximize utility subject ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Characterize the optimal solution of the general two-variable constrained maximization problem Subject to g(x1, x2) = 0 using the implicit function theorem to solve the constraint.
-
What are firms assumed to maximize? Under what constraints do firms perform this maximization? Describe how the individual firm determines the output level that achieves that maximum. Can you...
-
Describe profit maximization in terms of marginal revenue and marginal cost.
-
During a worldwide recession in 1983, the oil cartel began to lower prices. Why would a recession make the cartel more vulnerable to price cutting? How would the reduced demand be shared between the...
-
Assume that a rod drawing operation can be carried out either in one pass or in two passes in tandem. If the die angles are the same and the total reduction is the same, will the drawing forces be...
-
Extend the Arithlang programming language to support the least common multiple (LCM) expression, whose syntax should be (# list-of-operands). The LCM of integers is the smallest positive integer that...
-
An auditor's primary concern when performing tests of controls over purchasing is to determine whether: a. Purchases are properly authorized. b. Purchases are properly recorded. c. Purchase orders...
-
Middler Corporation, a manufacturer of electronics and communications systems, uses a service department charge system to charge profit centers with Computing and Communications Services (CCS)...
-
Describe the following items: Cost accounting analysis consists of variable costs, fixed costs, direct costs, and indirect costs. A client has requested that you explain the difference between...
-
2. A pair of students forgets to precipitate the carbonate ions in their leaf compost jar's NaOH solution prior to the HCI titration. How would this affect the perceived amount of NaOH present in the...
-
Define and distinguish between productive efficiency and allocative efficiency.
-
Define price elasticity of demand and explain what ranges of value it may take.
-
The breaking strengths of 14 randomly selected objects produced from a standard procedure had a mean of 56.43 and a standard deviation of 6.30. In addition, the breaking strengths of 20 randomly...
-
A typical high - income household in 1 9 9 0 earned $ 1 9 1 , 0 2 8 . A similar household in 2 0 1 9 earned $ 2 8 6 , 1 3 8 . What was the relative increase in income for these households from 1 9 9...
-
The table below gives students' grades on a math test. Grades Frequency A 18 B 14 C 9 6 F 3 A. Create a probability distribution table for the data above. AR B. Find the probability that a randomly...
-
Isamy has retired, she wants to start taking monthly withdrawals from her IRA that has been paying 6% interest. If she has saved a total of $500,000, how much money should she take out each month to...
-
A dining room set was ordered on August 12, paid for on August 15 and received August 21, and had discount terms of 2/10, n/30, ROG. What is the latest date the cash discount is allowed?
-
Round to the nearest cent. A director of accounts received a bill for for a $743, dated October 9, with sales terms 5/10, 3/20, n/30 . The bill was paid October 24. Find the cash discount and net...
-
What approaches to recruitment can an employer adopt in order to create and project a positive public image?
-
As indicated by mutual fund flows, investors tend to beat the market seek safety invest in last year's winner invest in last years loser
-
How can warranties be excluded?
-
Christine Boyd was designated as the beneficiary of a life insurance policy issued by Aetna Life Insurance Company on the life of Christines husband, Jimmie Boyd. The policy insured against Jimmies...
-
Plaintiff, Gibson, entered into negotiation with W. S. May, president of Home Folks Mobile Home Plaza, Inc., to buy Home Plaza Corporation. Plaintiff visited the mobile home park on several...
-
Columbia University brought suit against Jacobsen on two notes signed by him and his parents. The notes represented the balance of tuition he owed the University. Jacobsen counterclaimed for money...
-
.There are 10 people waiting in line for a ride. Only 2 people can ride at a time. How many ways can 2 people go on the ride at once? You are going golfing. You have 3 drivers, 7 wedges, 6 irons, and...
-
The annual log returns on a portfolio is 15% and 10% separately over two years. Assume the initial investment on this portfolio is $10,000, what is the portfolio value at the end of the year two?
-
4 $81.47 5 $76.38 The following table summarizes prices of various default-free zero-coupon bonds (expressed as a percentage of the face value): Maturity (years) Price (per $100 face value) 1 $95.33...
Study smarter with the SolutionInn App