4. "The increase in value would be created by having available one additional unit of alimiting resource at the original cost" is:A) Demand priceB) Shadow priceC) None of the above5. The following statements have been made about rolling budgeting:1) Keep updating the budgeting by adding further an accounting period when the earlierhas expired.2) The variants of the budget are not adjusted to reflect actual levels.Which of the above statements is/are true?A)Only 1B) 1 and 2C) None of the above

4. Having one more unit of a limited resource accessible at the original price would result in a…

Answered: 4. "The increase in value would be…

4. "The increase in value would be created by having available one additional unit of a limiting resource at the original cost" is: A) Demand price B) Shadow price c) None of the above

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.3P

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Question

4. "The increase in value would be created by having available one additional unit of a
limiting resource at the original cost" is:
A) Demand price
B) Shadow price
C) None of the above
5. The following statements have been made about rolling budgeting:
1) Keep updating the budgeting by adding further an accounting period when the earlier
has expired.
2) The variants of the budget are not adjusted to reflect actual levels.
Which of the above statements is/are true?
A)
Only 1
B) 1 and 2
C) None of the above

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