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Consider a two person, two commodity pure exchange economy, with:U q q,U q q q q qand q q q Derive the contract curve as an implicit function of q and q.
a) What condition on the coefficients and ß will ensure that the contract curve is a straight line?
b) Explain the basic tenets of Rawl's theory of justice.
The following table provides the quantity of fish and coconuts that each individual can catch or gather in one hour. Coconuts Fish Adam 6 2 Friday 6 4 a. Who has the absolute advantage in catching fish
Inspection equipment costs $2,000 now. The general price inflation rates for the past five years have been 2%, 3%, 4%, 3%, and 4%. What is the real $ cost of the item now
a motorcycle is for sale for $2600. the dealer is willing to sell it on the folowing terms: No downpayment; pay $44 at the end of each of the first 4 months; pay$84 at the end of each mont after that until the loan has been paid in full.
Illustrate your answer by assuming that with advertising, a firm's demand curve has price elasticity of -1.5 and without advertising, it is -2. If MC is $10, what is the difference in the profit-maximizing price.
How is the wording of an adverse opinion different from that of an unqualified opinion?
the supply curve for product x is given by qxs -340 10px .a. find the inverse supply curve.p qb. how much surplus
if nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105, a)what is the percetage increase in nominal output b)what is the percentage increase in the price index
the supply curve for product x is given by qxs -520 20px .a. find the inverse supply curve.p qb. how much surplus
What is the relationship between the marginal cost and the average variable and average total costs You may fill in all the appropriate numbers and draw a graph with MC, TVC, AVC, TC, ATC, TFC, and AFC, if you wish.
Compute the profit levels under each of the three market structures.
Assume, instead, that the economy in exercise 19.10 lasts only for two periods. In the first period, there is only a young consumer. In the second period, there is one old consumer and a new young consumer. At the end of the second period, the eco..
Use the given equation and determine the demand equation as a function of Ps if the price of other pastas (Po) is $2,
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