Answer:
Explanation:
In a command economy, the government does all of these things except deciding how much consumers buy. The government can definitely influence how much they buy by controlling wages and prices, but ultimately the consumer makes the decision about purchasing.
The Utility Function Shows That S and K can be used interchangeably, according to the utility function, and only one of them is really consumed.
- Utility in economics refers to the pleasure or happiness that customers derive from using an item or service. Consumer preferences for a variety of products and services are gauged by the utility function.
<u>CALCULATION</u>
Although the benefit or happiness that customers experience is calculated in units called utils
- MPs / MPk = 3/4 = 0.75 for MRS.
- Ps / Pk= 2 / 3 = 0.67
- MRS > Ps/Pk,
Hence only S will be employed.
'Starfruit' = 60 / 2 = '30
Kiwi = 0
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Answer:
a.Elasticity of demand is p = k/q (an inverse relationship between the price and quantity)
b.My answer in part (a) means that an increase in the price of the item will lead to a decrease in its demand, hence the following applies
1.All prices are critical points of the revenue function.
2.Revenue is increased by lowering the price
The borrower may be awarded real losses, legal expenses, and, in extreme situations, the credit may be extended.
<h3>What is foreclosure consultant?</h3>
A person who stops the sale of foreclosure is called as foreclosure consultant. He, directly or indirectly, makes a solicitation, representation, or offer to an owner to perform for the act of foreclosure.
A borrower filed a lawsuit against a foreclosure consultant for breaking the mortgage foreclosure consultant legislation. The borrower may be awarded actual damages, legal charges, and credit may be extended in exceptional cases.
Therefore, it can be concluded that credit expansion can be done in some of the cases for violating the mortgage.
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