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Utility Maximization: Free Good vs Not Free Perspective
Using consumer theories as a basis, that include marginal utility and income constraints, explains the difference between the consumption of a free good and a good that is not free.
Assuming individuals hold no cash (all cash is in bank vaults as reserves), calculate the simple money supply from the following reserves requirements and deposits in the systems. 5 Points each, 30 points subtotal
Use the following data for a pure monopoly to calculate the firm's-its profit-maximizing output level and produce price;
Impact of technology advance a monopolist has the following demand function: Solve for the price and quantity that the monopolist would choose to minimize its profit. And also calculate the resulting profit.
The absolute value of coefficient of the price elasticity of demand.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
In light of Ricardian model, how might you measure the claim by developing countries that they're at a disadvantage in trade
Some politicians in countries that are the recipients of large numbers of immigrants advocate adopting laws requiring immigrants to learn the local language within a specified period of time.
Use a production possibility frontier to illustrate the probable results of your fiscal policy. By how much did consumption change? By how much did savings change?
Discuss how your answer relates to the income and substitution effects of a price change from Knoxville food prices to Berkeley food prices.
List and explain the sources of expenditures in economy by focusing on the 4 major sectors of economy.
Explain demand for cassette players is price elastic also they are cyclical normal goods.
Compute the employment rate (i.e., number employed: population) in each year? How can employment rate may go up or down in the unemployment rate stays the same? How can employment rate go up if unemployment rate also goes up?
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