Answer:
The Marginal Rate of Substitution looks at the balance in changes of good 1 and good 2 required for the consumer to be indifferent between his/her consumption bundles before and after trade. But what does indifference mean? It means that utility for both bundles is exactly equal. Therefore, ΔU=0
There is some (negative) change in utility resulting from giving up a little bit of good 2, and as we saw in the previous section, this change equals MU₂Δx₂, Similarly, there is some (positive) change in utility from getting a little more of good 1, MU₁Δx₁ which equals Since we want to be indifferent before and after the trade, it must be that the sum of these changes equals zero. That is, U=MU₁Δx₁ + MU₂Δx₂ = 0, now the MRS can be find from this equation of marginal utilities!
First, MU₁Δx₁ from both sides. Then, MU₂Δx₂= -MU₁Δx₁ Next, divide both sides by x₁ and MU₂. The result is Δх₁/Δх = - MU₁/ MU₂ The left hand side is just the MRS, and the right hand side is the negative ratio of marginal utilities. In the MRS section, we learned why the left hand side would automatically be negative.
Explanation:
The right hand side needs the negative sign because marginal utility is positive for goods, so the ratio of marginal utilities is always positive.
Answer:
Ethics
Explanation:
Ethics code defines that is accepted by a company for better understanding that what is right or wrong so that they can follow the understand of their resolution.
Corporate social responsibility states that the business can be done in the favor of society so that the society can be in trouble to select their products. On the other hand the organization take care that the child labor should not be done.
According to the given situation the correct answer is ethics as they give the ethics training with taking care of rules and regulation.
De Beers is worried that people might resell their previously owned diamonds <u>because previously owned diamonds would be a close substitute to newly mined diamonds and therefore reduce De Beers' market power</u>.
<u>Explanation</u>:
A single company selling the unique product with no competition is known as monopoly. The company is sole seller of the product. The company is free of competition and decides the price of the product with full freedom.
De Beers Company is a monopoly company dealing with diamonds. They were monopoly for long time. In recent days they are facing increasing competition due to resale of diamonds by the previously owned customers. The company’s market power is reduced as the previously owned diamond is close to newly mined diamond.
Answer:
Be yourself
Explanation:
Don't panic about this! I'd go with casual formal, maybe some jeans and a nice shirt?
Make eye contact a lot and always answer honestly. Goodluck! I hope you get the job <3
HEY THERE.
THE CORRECT ANSWER IS <span>The presence of formal labor organizations in the united states dates back to the LATE 1700S
HOPE IT HELPS THANK YOU :)</span>
