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Suppose Alan’s preferences are described by the utility function:
U(x, y) = ln(x) + 2ln(y)
a. Find Alan’s MRS.
b. Find the equation for Alan’s indifference curve through the bundle (3, 6).
Write a well-reasoned argument defending your stance. If deposit insurance were abolished, elucidate how would this change incentive structure facing deposit theory institutions.
You observe a positive relationship between price that your store charges for CDs and total revenue from CDs. Is demand for your CDs elastic or inelastic.
Some economists and policymakers argue in favor of replacing the current income tax in the USA with consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern? Which tax methods do you p..
Find the equivalent of present worth (t = 0) of a uniform series of $4550 for 8 years, if the payment is made every 12 months, starting 6 years from now. Assume the interest rate is 12% per year, compound continuously.
In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
Billboards cost money to make and don't really seem to significantly benefit anyone other than billboard-makers. A company c putting up billboards presumably increases profits from the resulting increased number of customers, but don't competing busi..
Prepare the income statement and retained earnings statements for the year and the classified balance sheet at August 31.
As the saying goes, "the only sure things in life are death and taxes." This saying points out the result that everything having to do with taxes is an automatic fiscal policy.
In late 2006 and early 2007, orange crops in Florida were smaller than expected, and the crop in California was put in a deep freeze by an Arctic cold front.
q1. timber companies in the united states cut down many trees on openly owned land. describe likely efficiency of
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
q1. as the ending of month approaches you realize that you perhaps will not be able to pay the next months rent.
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