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Adam Sandler has a utility function U(C,L)=C^1/2L^1/2. The wages now available to him are $9/hour and non wage incomes in royalties are $6/day. Find the MUL and the MUC. Find the MRS for leisure to consumption to find the optimal ratio of leisure to consumption. Write out and draw the Budget Constraint for Adam Sandler, assuming he has 24 in which he can work.
In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 12.5 percent, what will be the cumulative change for the bank..
In terms of the shareholder wealth maximization model, if the expected future profits of a firm are cut in half, what should happen to the share price?
Explain how many fish should a commercial fisherman try to catch a day. Should he catch as many as possible or return to dock before filling the boat with fish.
In a market economy-supply determines demand and demand, in turn, determines prices. demand determines supply and supply, in turn, determines prices.
Measles has become an epidemic here in Orange County. About 1 in 1000 people will die after contracting the disease. Because this is such a high rate, health officials in Orange County would be well advised to pay for anyone to get a vaccination.
What indifference curves and budget constraints to explain how an individual labor supply is affected by qualifying for the TANF program?
Determine which of the two investment projects a manager should choose if the discount rate.
illustrate what are short-run and long-run effects on aggregate price level and aggregate output. There is an increase in taxes on households. There is an increase in quantity of money. There is an increase in government purchases.
According to the law of increasing opportunity cost,
Spring is here, and Becky and her dad would like to go fishing for the weekend in Washington. Becky could either go to the river in town where anyone can fish without a permit, or she could drive up to a stream located on her family's property in the..
The market for authentic poutine in Vancouver is controlled by two shops, PierrePoutine (i = P) and Mean Poutine (i = M). The market demand is given by p = 12−q, where p is the price, and q is aggregate output. Both shops produce at constant marginal..
USA has millions of individuals under 16 years old who are not working. Do we include them as part of unemployed individuals? Why higher rates of unemployment undesirable? What are the social problems linked with unemployment? What are the types of u..
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