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Utility is given as: U(x, y) = min(x,y) (a) Graph a typical indifference curve for this function. (Hint: Choose a level of utility and draw various combinations of x, y that result in that level) (b) Give examples of goods that are well represented by this model. PLEASE include steps!
Stan Money maker has been shopping for a new car. He is interested in a certain 4-cylinder sedan that averages 28mpg. But the sales-person tried to persuade Stan that the 6-cylinder model of the same automobile only costs $2500 more and is a better v..
Graph the supply and demand curves in this market. Be sure to put the quantity (Q) on the horizontal axis and the price (P) on the vertical axis. You may use quantities two (Q = 2) through eighteen (Q = 18) by units of one (1) for your graph. What is..
Critically compare and contrast the policy approaches of TSCA and FIFRA. In your view, which of these is more effective in preventing pollution? Explain.
Discuss the long range effects of a stimulus plan as it affects the banking sector.
What is the effect of an increase in the tax rate on interest income on the supply of and the demand for loan able funds?
q1. assume that the popular car dealer in your area sells 2.50 of the entire vehicles. if all other car dealers sell
Consider the following market game: An incumbent firm, called firm 3, is already in an industry. Two potential entrants, called firms 1 and 2, can each enter the industry by paying the entry cost of 10. First, firm 1 decides whether to enter or not. ..
Explain why capital flows cause imbalances in the current account. Post to the discussion board your 200 word answer focusing on selecting and organizing your most relevant comments in a coherent fashion.
Explain how would you extend the above narrative to businesses, society as a whole or nations.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope.
A Nash equilibrium is said to occur when,
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
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