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Abdul spends all of his income on food (F) and shelter (S). His budget line is given by the equation 5F + 20S = 100. Which of the following consumption bundles is part of his consumption possibilities?
8 units of F and 3 units of S
14 units of F and 2 units of S
0 units of F and 6 units of S
20 units of F and 15 units of S
A steel factory has the right to discharge waste into a river. The waste reduces the number of fish, causing damage for fisheries. Let X denotes the quantity of waste dumped.
Moral hazard occurs when: Stephanie offers to pay Josh $1,000 a year from now if he will lend her money today. Assume that there is no inflation over this period. If Josh want
The marginal utility for consuming cake (MUC) is 28 and the marginal utility for consuming beer (MUB) is 12. The price of cake (Pc) is $7 and the price for beer (PB) is $4. Fi
Everything else? equal, when domestic currency appreciates against a foreign? currency: Contractionary fiscal policy leads to a? ________. Which of the following factors of pr
In class we looked at cost curves. Explain why the marginal cost curve intersects the average total and variable cost curves at their respective minimum values: At what point
A company manufactures microchips. use the revenue function R(x)=x(75-5x) and the cost function C(X)=125=12x to answer parts A-E, where x is in millions of Chips and R(x) and
Average cost of producing 70 pies in batches of ten is $5.00 per pie and the average cost of producing 80 pies in batches of ten is $4.50 per pie. Elucidate the marginal cos
Problem associated with first video: Increasing transformation Consider the following utility function u(x1, x2) = x1x2. Calculate the MRS for this utility function. Compute a
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