Microeconomics

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A cake is to be shared by two people. Both desire the largest piece possible. One of the two will ... Started by Beheh	1 Replies 41 Views	Jul 1, 2018 by choc0chan
Suppose in a democratic society, all voters prefer choice G over choice B; however, when the two ... Started by ishan	1 Replies 46 Views	Jul 1, 2018 by amanda_14
No clearly defined socially preferred outcome may result when majority voting on outcomes because ... Started by fbq8i	1 Replies 49 Views	Jul 1, 2018 by choc0chan
If everyone's utility is given equal weight and a change in resource allocation results in one ... Started by fasfsadfdsfa	1 Replies 38 Views	Jul 1, 2018 by mbcrismon
If a society only cares about efficiency and not equity, then A) all points on the contract curve ... Started by KWilfred	1 Replies 32 Views	Jul 1, 2018 by courtney_bruh
If a society relies on competitive markets to allocate goods, then A) an equitable distribution ... Started by cookcarl	1 Replies 44 Views	Jul 1, 2018 by eliasc0401
A dictator is most likely to A) adopt a Rawlsian social welfare function. B) maximize her own ... Started by charchew	1 Replies 51 Views	Jul 1, 2018 by joneynes
If society were to maximize the utility of its worst-off member, the final allocation would most ... Started by mckennatimberlake	3 Replies 18 Views	Jul 1, 2018 by tennis14576
If society were to maximize the utility of its best-off member, the final allocation would be A) ... Started by Wadzanai	1 Replies 11 Views	Jul 1, 2018 by mfedorka
For most commonly used social welfare functions, an efficient allocation is A) always preferred ... Started by londonang	1 Replies 11 Views	Jul 1, 2018 by rosiehomeworddo
The end of slavery in the United States represented A) a large wealth transfer from the South to ... Started by B	1 Replies 24 Views	Jul 1, 2018 by lkanara2
Comparing the distribution of wealth of the wealthiest 1 of the population in the United States ... Started by sammy	1 Replies 46 Views	Jul 1, 2018 by b614102004
The Arrow impossibility theorem suggests A) democracies are doomed to fail in the long run. B) ... Started by awywial	1 Replies 39 Views	Jul 1, 2018 by catron30
Most of the debates in the U.S. Congress center on A) efficiency concerns. B) equity concerns. ... Started by Mr. Wonderful	1 Replies 69 Views	Jul 1, 2018 by katheyjon
A social welfare function (SWF) A) depicts the preferences of the president of the country. B) ... Started by KWilfred	1 Replies 47 Views	Jul 1, 2018 by yahahah24021
If government chooses a policy that does not lead to a Pareto improvement, one may say that A) ... Started by joblessjake	3 Replies 17 Views	Jul 1, 2018 by k2629
At a given point in time, the Rawlsian welfare function gives equal weight to each individual's ... Started by eruditmonkey@yahoo.com	1 Replies 32 Views	Jul 1, 2018 by AISCAMPING
Equity and efficiency can be achieved simultaneously through competition. Indicate whether the ... Started by BRWH	1 Replies 60 Views	Jul 1, 2018 by millet
The United States is the most inequitable country in the developed world. Indicate whether the ... Started by HCHenry	1 Replies 42 Views	Jul 1, 2018 by tdewitt
If a market is controlled by one perfect price discriminator who is able to charge each consumer the ... Started by B	1 Replies 11 Views	Jul 1, 2018 by BUTTHOL369
Explain why a government may select an inefficient allocation. What will be an ideal ... Started by SGallaher96	1 Replies 12 Views	Jul 1, 2018 by joshbk44
For a monopoly, marginal revenue is less than price because A) the demand for the firm's output ... Started by ghost!	1 Replies 23 Views	Jul 1, 2018 by adammoses97
Marginal Revenue is A) the increase in total revenue from selling one more unit of output. B) ... Started by jCorn1234	1 Replies 78 Views	Jul 1, 2018 by pallen55
At the current level of output, a firm's marginal cost equals 16 and marginal revenue equals 10. The ... Started by hubes95	3 Replies 94 Views	Jul 1, 2018 by TheNamesImani
At an output level of 100, a monopolist faces MC = 15 and MR = 17. At output level q = 101, the ... Started by michelleunicorn	1 Replies 22 Views	Jul 1, 2018 by gcook