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Anne faces an uncertain World with two possible states, good and bad. In the good state she has money holding MG and in the bad state, she has money holdings MB. We will write the money bundle M = (MG, MB). The good state is realized with probability Π and the bad state is realized with probability 1 - Π. Anne's preferences are characterized by expected utility function, U (M) = Π√ MG + (1 - Π) √ MB. Let Π = 3/4. 1. How does Anne rank the following three bundles M1 = (100, 100), M2 = (50, 250), M3 = (120, 40)? 2. What is Anne's expected money holdings for the three bundles? (that is, weighted average money holdings over the two states). 3. Draw Anne's indifference curve for expected utility, U (M) = 10. 4. In the same graph, draw the constant expected money holdings line for expected money holding of 100 (that is, money bundles M that all have the same expected money holdings). 5. Is Anne risk loving, neutral, or averse? 6. In the same graph as above, draw Anne's indifference curve for U(M) = 10, but now set Π = 1/2.
suppose the real side of an economy is characterized byy 80k12 l12k100 and l 100g 3000t 3000i 2000 - 6000rc 600
Economic fluctuations (or business cycles) are fluctuations in the level of economic activity, relative to a long-term growth trend. Comparing and contrasting the economic fluctuation the United States has experiences from 1990 to current date.
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1. if the income elasticity of demand for lard is -3.00 that means thata.lard is a substitute for butterb.lard is a
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LG Electronics plans to invest 30 trillion won by 2010 to make this happen, hoping that the cost savings and reduction in risks associated with vertical integration justify the investment.
write an essay economic crisis in europe? explain it. write an essay with including references and total 2000 words.
If the government had the option to either make changes to the tax rates or vary government spending to combat a recession that is already in progress, which of these two fiscal policies do you think would have a greater time lag to see its effect..
Which of the following is not a condition required for the practice of price discrimination?
analyze how the law of demand applies to a recent purchase that you made. describe how the product has changed in price
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