1. Allocative efficiency
2. Technical efficiency
3. Full employment
kevinnyabute answered the question on February 22, 2018 at 09:51
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Define the term economic policy as used in microeconomics
(Solved)
Define the term economic policy as used in microeconomics.
Date posted:
February 22, 2018
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Answers (1)
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Explain the difference between microeconomics and macroeconomics
(Solved)
Explain the difference between microeconomics and macroeconomics.
Date posted:
February 22, 2018
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State and explain the types of isoquants in microeconomics
(Solved)
State and explain the types of isoquants in microeconomics
Date posted:
February 22, 2018
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Answers (1)
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What is an isocost line?
(Solved)
What is an isocost line?
Date posted:
February 22, 2018
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Answers (1)
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Why is an isoquant negatively inclined?
(Solved)
Why is an isoquant negatively inclined?
Date posted:
February 22, 2018
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Answers (1)
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What does the slope of an isoquant represent?
(Solved)
What does the slope of an isoquant represent?
Date posted:
February 22, 2018
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Answers (1)
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State five assumptions of isoquants
(Solved)
State five assumptions of isoquants.
Date posted:
February 22, 2018
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Answers (1)
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What is the difference between an isoquant and an indifference curve?
(Solved)
What is the difference between an isoquant and an indifference curve?
Date posted:
February 22, 2018
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Answers (1)
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State the similarities of isoquants and indifference curves
(Solved)
State the similarities of isoquants and indifference curves
Date posted:
February 22, 2018
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Answers (1)
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Give measures an entrepreneur would take to gain a competitive edge over other competitors
(Solved)
Give measures an entrepreneur would take to gain a competitive edge over other competitors.
Date posted:
February 21, 2018
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Answers (1)
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Under indifference curve analysis, a consumer is considered to be at equilibrium when certain conditions are met, state these conditions
(Solved)
Under indifference curve analysis, a consumer is considered to be at equilibrium when certain conditions are met, state these conditions.
Date posted:
February 21, 2018
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Answers (1)
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Define properties of indifference curves in economics
(Solved)
Define properties of indifference curves in economics
Date posted:
February 21, 2018
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Answers (1)
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Outline two schools of accessing consumer utility
(Solved)
Outline two schools of accessing consumer utility.
Date posted:
February 21, 2018
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State three types of goods which disobey the law of demand
(Solved)
State three types of goods which disobey the law of demand.
Date posted:
February 20, 2018
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Answers (1)
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Distinguish between the following terms: demand curve and demand schedule, ordinal utility theory and cardinal utility theory, consumer surplus and producer surplus, arc elasticity and point elasticity
(Solved)
Distinguish between the following terms:
demand curve and demand schedule
ordinal utility theory and cardinal utility theory
consumer surplus and producer surplus
arc elasticity and point elasticity
Date posted:
February 20, 2018
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Answers (1)
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Define (a) consumer equilibrium (b) market equilibrium
(Solved)
Define (a) consumer equilibrium (b) market equilibrium
Date posted:
February 20, 2018
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Answers (1)
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List some of the assumptions about consumer Preferences
(Solved)
List some of the assumptions about consumer Preferences
Date posted:
February 16, 2018
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Differentiate between comprehensive and third party motor vehicle insurance
(Solved)
Differentiate between comprehensive and third party motor vehicle insurance.
Date posted:
February 16, 2018
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Answers (1)
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Discuss law of demand
(Solved)
Discuss law of demand
Date posted:
February 15, 2018
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Answers (1)
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Define(a) Marginal rate of substitution(b) Law of diminishing marginal utility
(Solved)
Introduction to microeconomics
Date posted:
February 14, 2018
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Answers (1)