The term consumer sovereignty refers

Assignment Help Business Economics
Reference no: EM13996863

The term consumer sovereignty refers to...

(a) the idea that the consumers try to maximize their expenditures

(b) the fact that consumers choices are limited to what the producers decide to produce

(c) the idea that the desires of both producers and the government ultimately determine what is produced

(d) a situation in which the government decides what is produced

(e) the idea that consumers ultimately determine what is produced

Reference no: EM13996863

Questions Cloud

The nominal interest rate : The nominal interest rate
The law of supply illustrates that : The law of supply illustrates that
An upward-sloping aggregated supply curve indicates that : An upward-sloping aggregated supply curve indicates that
Suppose that a firm-faced with constant input prices : Suppose that a firm, faced with constant input prices, recently increased the quantity of each of inputs by 10 percent. As a result, its output increased from 100 units to 120 units. Indicate whether each of the following statements is true, false or..
The term consumer sovereignty refers : The term consumer sovereignty refers to...
Assuming a steady state of production : A tailor must make 8 of the same size suits for a client. The first suit took 13.1 hours to make and the last suit took 8.2 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reac..
Furniture maker estimates his learning curve : A furniture maker has an order for 98 identical tables. If the furniture maker estimates his learning curve at 82% and can reach steady production of 7 hours per table on the 6th table, how long should it take to make all the tables? Express your ans..
Power-sizing exponent and cost index increased : A 4,000 gallon storage tank was purchased for $240,000 12 years ago. How much would a 12,000 gallon storage tank cost today if the power-sizing exponent were 0.73 and the cost index increased from 150 to 250 over the last 12 years. Express your answe..
The circular flow of income model shows that : The circular flow of income model shows that

Reviews

Write a Review

Business Economics Questions & Answers

  Negative function of the nominal interest rate

We have learned that the demand for money is a negative function of the nominal interest rate. Explain why it is the nominal and not the real interest rate that matters.

  One-time fee affect the market supply or demand curves

Suppose that there are 1,000 hot pretzel stands in New York City. The market demand slopes downward, and the pretzel market is perfectly competitive (and starts in long-run equilibrium). Draw the current (long-run) equilibrium for pretzels. Use two g..

  Create a claim using the proven technique

Create a claim using the proven technique below to get venture capital money for a new product idea. Use your own new product idea or pick an innovative product that is already on the market and act like it’s a new idea for which you are trying to ge..

  Effect of this ongoing chain of events at each of the banks

Suppose that First National Bank, Second National Bank, and Third National Bank have zero excess reserves. The required reserve ratio is 20%. The Federal Reserve buys a government bond worth $1.5 million from John, a client of First National Bank. Fi..

  Currently has a monopoly on widgets

Suppose Sammie Wall currently has a monopoly on widgets. The inverse demand function for the only customer interested in widgets is [P=40-6Q] and the cost to produced widgets can be described by the following cost function: [C=10+2Q^2] . If Sammie de..

  A substantial increase in marginal tax rates

A substantial increase in marginal tax rates will most likely encourage individuals to choose: Question 13 options: 1) to work more overtime. 2) to invest more. 3) to spend more of their scarce resources looking for tax shelters. 4) none of the above..

  Business equipment-what is its tax basis

Business equipment was purchased for $100,000. It's depreciated using MACRS, half-year convention, 7-year life property. At the end of year 5 what is its tax basis? $77,690. $100,000. $0. $22,310.

  Factors that might explain acme hospital

Suppose that these cost figures accurately refl ect the economic costs of providing inpatient services at these two hospitals and that the two hospitals face the same average total cost curve.

  Investment boom affect the long-run aggregate-supply curve

Suppose firms become very optimistic about future business conditions and invest heavily in new capital equipment.  Now use the diagram from part A) to show the new long-run equilibrium of the economy. (Assume there is no change in the long-run aggre..

  Comparative advantage in the production of a good or service

How can a domestic producer determine whether or not it has a comparative advantage in the production of a good or service?

  Take for sallie to repay the entire loan

A certain college graduate, Sallie Evans, has $24,000 in student - loan debt at the end of her college career. The interest rate on this debt is 0.75% per month. If monthly payments on this loan are $432.61, how many months will it take for Sallie to..

  What level of excess reserves does the bank now have

Suppose that Third National Bank has reserves of $20,000 and checkable deposits of $200,000. The reserve ratio is 10 percent. The bank sells $15,000 in securities to the Federal Reserve Bank in its district, receiving a $15,000 increase in reserves i..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd