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1. Explain why two indifference curves cannot intersect.
2. Jon is always willing to trade one can of Coke for one can of Sprite, or one can of Sprite for one can of Coke.
a. What can you say about Jon's marginal rate of sub- stitution?
b. Draw a set of indifference curves for Jon.
c. Draw two budget lines with different slopes and illustrate the satisfaction-maximizing choice. What conclusion can you draw?
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The world price of wine is below the price that would prevail in the United States in the absence of trade. Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free t..
If the national GDP is $559 billion in the base year, and it rises to 577 in year i, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 to 104.5 in the first year and up to 108.3 in the second year ?
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Tempura, Inc., is considering two projects. Project A requires an investment of $58,000. Estimated annual receipts for 20 years are $25,000; estimated annual costs are $12,500.
compare and contrast leadership roles and management responsibilities in a non-health care setting with that of a
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