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There are two people in the economy, George and Harriet. George's utility function is:
UG = aG(bG)2
Where aG and bG are his consumption of ale and bread.
Harriet's utility function is
UH = aHbH
Where aH and bH are her consumption of ale and bread. George and Harriet are each endowed with 4 units of ale and 4 uits of bread. Find the market-clearing price (which is a messy fraction).
Has consumer surplus been affected in any way due to the changes in the auto structure of industry
Compute new supply of $ at each exchange rate and graph the new supply curve.
A major industrial firm decides to spend $2,000,000 to purchase new machines for a factory. If the marginal propensity to consume is 0.8, the eventual change in GDP will be?
this question uses the general monetary model where l is no longer assumed constant and money demand is inversely
What was the impact on the supply and demand of labor on one sector of the labor market? Explain the factors that affected labor demand and labor supply in the chosen historical example.
q1. what is the most important case that the tax as supreme court has well sales?q2. discuss why tickets scalping at
Illustrate what are the implications of savings and population growth at steady a state in the Solow's neoclassical growth model.
He projects that his costs also revenue will be similar this year if he continues farming. Illustrate what is Bowen's accounting profit from farming an additional year.
If you get this classmate as your partner on a series of projects throughout the year, rather than only once, Explain how might that change the outcome you predicted in part (b).
Illustrate what is the marginal revenue from selling another book for the author. Explain how does it compare to the marginal revenue
Illustrate what level of control variable are net benefits maximized. Illustrate what is relation between marginal benefit and marginal cost at this level of control variable.
Which economic decision makers determine the demand for labor. What are their goals. Illustrate the decision criteria do they use to reach their goals.
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