Explain why taking a monotonic transformation of a utility function does not change the marginal rate of substitution (mrs).
Solved
Show answers
More tips
- H Health and Medicine How to Treat Whooping Cough in Children?...
- L Leisure and Entertainment Unlocking the Secrets of Fast and Effective Tectonic Learning...
- A Animals and plants Уход за джунгариками: полезные советы и рекомендации...
- S Style and Beauty How to knit a hooded cowl?...
- S Style and Beauty How to Break in New Shoes: 7 Simple Methods...
- D Dating, Love, Relationships 10 Useful Tips on How to Survive a Breakup?...
- A Art and Culture How to Learn Screaming: Step-by-Step Guide for Beginners...
- A Art and Culture Attention, the Final Episode of Margo is Almost Here!...
- H Health and Medicine Novomin: What is it and how to use it?...
- L Leisure and Entertainment How to Land on the Moon: Your Comprehensive Guide...
Answers on questions: Business
- B Business One of your clients performs the following transactions simultaneously: short sells 200 shares of mno stock at a market price of $25 per share sells 2 mno july 45 puts with a...
- B Business Hospital equipment company (hec) acquired several fmri machines for its inventory at a cost of $3,400 per machine. hec usually sells these machines to hospitals at a price of...
- B Business What is the crown on the ambitious rank? i ranked up once but have trouble figuring out what the crown means. what is it?...
- B Business Why do many organizations encourage their employees to be lifelong learners? employees will be more able to handle increasing responsibilities employees will be more likely to...
- B Business Prior to its stock market crash, Japan enjoyed strong economic growth. However, the country also faced economic risk because a. lower loan rates encouraged greater competition....
- B Business The TimpRiders LP has operated a motorcycle dealership for a number of years. Lance is the limited partner, Francesca is the general partner, and they share capital and profits...
- B Business Sydney to phoenlx. terry lamoreaux owns homes in sydney, australia, and phoenix, united states. he travels betweenthe two cities at least twice a year. because of his frequent...
- B Business Susan visits the office of a local attorney to have a will drawn up. she has never hired an attorney before, but thinks that this particular attorney is doing a good job based...
- B Business Tangerine county needs a new county court house but does not have current funding available. accordingly, the county entered into a lease agreement with surf city builders whereby...
- B Business Swifty corporation had net income for 2021 of $605000. the average number of shares outstanding for the period was 192000 shares. the average number of shares under outstanding...
Ответ:
Explanation:
Monotonic transformation refers to changing the quantity of both the variables in a way that their ranking or order is preserved. Monotonic transformation of a utility function does not change the marginal rate of substitution as the order of preferences remains intact with the monotonic transformation. It's just the level of utility that either increases or decreases with such a transformation. The indifference curve shape remains the same. With monotonic transformation, consumer moves from a lower to higher or higher to lower indifference curve.
Ответ:
Melba Beals wrote Warriors Don’t Cry to inform people about the struggle for integration in Little Rock. She shares what she experienced on her first day at school and in speaking out for integration.