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Alice’s preferences are represented by the utility function U(x, y) = x/ y if y > 0 and U(x, y) = 0 if y = 0. Draw a couple of her indifference curves, describing precisely your procedure, showing whether or not she • prefers more of each good to less, • has quasi-linear preferences, • has a bliss point
If GDP is increasing by 3% every year Explain how long will it take GDP to double. Given the same conditions above, Explain how long will it take Every Capita GDP to double if the population grows at 2%.
You borrowed $150,000 with a 30-years payback term and a variable APR that starts at 9% and can be changed every five years. What is the initial monthly payment? If, at the end of the five years, the lender’s interest rate changes to 9.75% APR, what ..
Suppose that the external damage is MD = 300 + 5Q; MC = 100 + 2Q; MB = D – 2Q where D is unknown. (a) If D = 1000, what would be the optimal quantity? What tax would be necessary on order for that to be the optimal quantity?
Needs advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry
Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon?
Free trade will affect a country's employment in different industries. When one individual writes a check to another individual the money supply will not be changed. A bank's required reserves are the fraction of deposits they are required by law to ..
karens performance pizza is a small restraunt in ny that sells gluten free pizzas karens very tiny kitchen barely has
If planned aggregate expenditure (PAE) in an economy equals 2,000 + 0.48Y and potential output (Y*) equals 4,000, then this economy.
As far as I can tell, research on the economics of poverty is very empirically driven, and this is probably appropriate. What kind of economic theory has been developed though? I'd also be interested in theory of some influence too. As an example, I ..
Suppose that a store will sell 2000 boxes of bananas a week at a price of $12 per box. If the store raises its prices to $15 per box, it will sell 1500 boxes. What is the elasticity using the original formula? What is the elasticity using the midpoin..
The demand in Japan for gasoline is inelastic and therefore not very sensitive to market prices. Given that, describe the effect of each of the following on thequantity demanded or the demand for gasoline in Japan. Indicate whether the effect of each..
Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. How many hours will she work if she earns $20 per hour? Find a formula for her labor sup..
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