A utility maximizing household will allocate its expenditure so that?

A capitalist economy is one characterized by the?

A. private ownership of factors of production B. ownership of factors of production by rich members of the society C. use of capital and labour in fixed proportions during production D. use of capital intensive methods of production Correct Answer: Option A –...
A utility maximizing household will allocate its expenditure so that?

The determinants of elasticity include?

A. price, time and availability of alternatives B. technology and cost of production C. time and availability of alternatives D. price, time and technology changes Correct Answer: Option A – price, time and availability of...

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