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Coach Steroid likes his players to be big, fast, and obedient. If player A is better than player B in two of these three characteristics, then Coach Steroid prefers A to B, but if B is better than A in two of these three characteristics, then Steroid prefers B to A. Otherwise, Steroid is indifferent between them. Wilbur Westinghouse weighs 340 pounds, runs very slowly, and is fairly obedient. Harold Hotpoint weighs 240 pounds, runs very fast, and is very disobedient. Jerry Jacuzzi weighs 150 pounds, runs at average speed, and is extremely obedient. Does Steroid prefer Westinghouse or Hotpoint?
Does Steroid prefer Hotpoint or Jacuzzi? Does Steroid prefer Westinghouse or Jacuzzi?
Will Steroid have any problem choosing one player out of the three? Why/Why not? What property is violated?
In planning for your retirement, you would like to withdraw $50,000 per year for 20 years. The first withdrawal will occur 20 years from today. What amount must you invest tod
The Super Bowl in 2014 was held outdoors in New Jersey in the winter. Assume the market for tickets to the event was in equilibrium one week prior to the Super Bowl. A weather
Consider how the labor leisure tradeoff diagram changes when Medicaid is offered to individuals whose income is below a defined threshold, I. Note that Medicaid is an in-kind
The demand for widgets is P = 100 -3Q and the supply of widgets is P = 20 + 2Q. Who bears the economic incidence of a $5 per unit tax on widgets? Find the excess burden of the
Suppose product demand is given by the column labeled D1. If the wage rate rises from $100 to $130, the firm will reduce the quantity of labor employed by _____ unit(s) Compar
You are the general manager of the Red Dog mine, which is the sole operator in Alaska selling copper. You have a maximum of S =1,000 tons available to sell this year and next
Poinsettia growing is a perfectly competitive industry and all growers have the same costs. The market price of Poinsettia is $27 a pot and each grower maximizes profit by pro
Jones Inc. has $22,000 to invest in securities down company on you'll 11% product or the corporate tax rate for Jones Inc. is 40% with 70% of the preferred stock dividends tax
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