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Author Question: A dictator is most likely to A) adopt a Rawlsian social welfare function. B) maximize her own ... (Read 81 times)

charchew

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on: Jul 1, 2018
A dictator is most likely to
 
  A) adopt a Rawlsian social welfare function.
  B) maximize her own utility.
  C) place equal weight on everyone's utility function.
  D) have nontransitive preferences.

Question 2

Economies of scale and Increasing Returns to Scale are the same thing looked at from either the production or cost perspective.
 
  Indicate whether the statement is true or false
Microeconomics ¦ Perloff ¦ 8th Edition
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joneynes

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

False. Increasing returns to scale imply economies of scale but the reverse is not true. A firm can experience economies of scale for other reasons (without increasing returns to scale)


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