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Mylie's total utility from singing the same song over and over is 50 utils after one repetition, 90 utils after two repetitions, 70 utils after three repetitions, 20 utils after four repetitions, 250 utils after five repetitions, and 2200 utils after six repetitions. Write down her marginal utility for each repetition. Once Mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous one or less than the previous one?
Corn is a key input in the poultry, dairy, hog, and cattle industry. Ellucidate effect has the sharp increase in the price of corn had on these industries.
The Ben Bernanke has said that the Federal Reserve is going to continue its latest round of Quantitative Easing until unemployment falls to 6.5%. How fast will the economy have to grow to bring unemployment down to 6.5% by this ..
Does the principle of "increasing opportunity cost" hold in this nation? Explain briefly.(Hint: What happens to the opportunity cost of bread-measured in the number of ovens-as bread production increases?)
Assume a duopoly and let demand be given by P=A-BQ. In addition, let both firms have the same marginal cost c. The interaction between the two firms will be repeated infinitely. Both firms play a grim trigger strategy: they collude and play the co..
Consider a product with a supply function Q 1 = β 0 + β 1 + u 1, a demand function Q d i =y 0 +u i d . Show that P i and u s d are correlated.
What are the three different approaches used to schedule advertising, and under what conditions are they used. Describe/discuss the communication process of both traditional (mainstream) media and social media.
What did the central banks do to stabilize the financial systems in 2007-2009 and Describe when and why central banks buy either their own currency or the currency of another nation in an effort to control exchange rates.
Airline alliances are major global partnerships that typically secure antitrust immunization, develop code share flights, coordinate frequent flyer plans,
Determine absolute advantage and comparative advantage and explain why will resources specialize according to their comparative advantages?
In what ways can the GFC be seen as being part of the business cycle and what are the possible longer term effects of the GFC?
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
1.)What major business cycle facts does the RBC theory explain successfully? Does it explain any business cycle facts less well? 2.)How would governmental expansionary policy affect the economy according to both theories (classical and Keynesian)? ..
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