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suppose that a consumer's preference between the good x and y are represented by the utility function u(x,y)= x+y. If these two goods have the same price, describe the optimal consumption choices of this consumer.
Scarcity can best be defined as a situation in which: Which of the following is NOT a factor of production? Ceteris paribus is the Latin expression meaning: The additional cost resulting from a small increase in some activity is called the: If a cons..
Identify the population and sample proportions of uncomfortable days, using correct notation - Identify the given parameters, statistics and sample size.
Is this microeconomic or macroeconomic? "More workers are being hired by the nation's businesses." Comment on the statement from an opportunity cost perspective: "The main cost of going to college is the $15,000 per year in tuition." Suppose that a ..
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month,What is the annual compounding interest charged?
In a perfectly competitive market, the cost structure of the typical firm is given by C = 25 + Q2- 4Q, and industry demand is given by Q = 400 - 20P. Currently, 24 firms serve the market - Create a spreadsheet
Identify the existing effect of the economic factors on aggregate demand and supply and identify fiscal policies that are currently being recommended by government leadership.
apart from the issues of sustainable yield and stock versus flow what other issues are becoming apparent when
A firm's current profits are $1,100,000. These profits are expected to grow indefinitely at a constant annual rate of 2 %. If the firm's opportunity cost of funds is 4.5 %, decide the value of the firm: The instant after it pays out current profits a..
1. Which of the following IS a function of money? a. medium of exchange b. store of value c. unit of accounting d. all of the above
The Smith's Company's marketing manager has determine that the price elasticity of demand for its product equals -2.2. According to the studies he has performed, the relationship between the amount spent by firm on advertising and its sales as fol..
Sales associates carry personal digital assistants to relay information on fashion trends and customer demand back to the company's team of 200 designers in Spain. Real-time sales data allow the factory to increase production of items that are sel..
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