Explain the assumption of free disposal as it applies to indifference curve analysis
What will be an ideal response?
In indifference curve analysis we are restricted to goods that yield positive marginal utility, or,more simply, that "more is better." One way to justify this assumption is to say that when more of something makes you worse off, you can simply throw it away at no cost.
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Which of the following statements is TRUE for the U.S.?
A) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $250,000. B) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $100,000. C) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $10,000. D) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against natural disaster up to $100,000. E) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against floods up to $100,000.
Process innovation refers to:
A. development of new products. B. implementation of better methods of producing products. C. first discovery of new scientific principles. D. widespread imitation of innovations.