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Compute the compensated demand (at the new prices) for the following utility functions. Assume I = 1, initial prices are px = 1 = py, and price of x rises to p?x = 3 while py is unchanged.
1. u(x,y)=min(8x,4y).
2. u(x, y) = 1000x + 500y.
What does Friedman mean when he says the Earth is becomming "hot, flat, and crowded?" Describe three of the key problems that Friedman identifies in the book and explin why they re important.
the standard product of labor is 6 flutes per day also the marginal product of labor is 8 flutes per day.
Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended questions, all on the same material. The professor was interested in determining on which type of questions the students scored higher.
mustard and mayonnaise are substitutes. mustard and relish are complements. mustard is a normal good. during the summer
What is the average time that catalog customers must wait before their calls are transferred to the order clerk? What is the average number of callers waiting to place an order?
If other people exploit the same opportunity, what will happen to the cost in Thailand as well as in Malaysia.
How much the quantity of a good traded changes after a shift of the supply curve depends on the size of the shift.
A university registrar who uses her experience with university admissions along with your high school grades, application essays, letters of recommendation.
A $2 million School-bond issue being interest at 15 percent pay le annually and maturing in 25 year was sold at a price which a 20 percent annual rate of return to the investors. The brokerage fee for handling the sale was 0.3 percent of the bond iss..
What is wrong with claiming that changes in the distribution of income are associated with trade instead of the technological changes that the article discusses.
find out goods that lie near these extremes. Characterize demands for the following goods as being near perfectly elastic or near perfectly inelastic.
Compute the elasticity of demand when the price of a deluxe cheeseburger raises $2.50 to $3.00 which causes sales to fall from 175 deluxe cheeseburgers each day to 125 deluxe cheeseburgers each day.
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