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Agricultural economics

A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?

A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?

A. Income schedule
B. Saving schedule
C. Consumption schedule
D. None

A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________? Read More »

Agricultural economics

An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?

An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?

A. Increasing cost industry
B. Decreasing cost industry
C. Declining industry
D. None of these

An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ? Read More »

Agricultural economics

To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?

To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?

A. Law of diminishing return
B. Say’ law
C. Law of diminishing marginal utility
D. Say’ law

To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ? Read More »

Agricultural economics