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Let w be the number of whips and j is the number of leather jackets. If Kinko's utility function is U(w,j)=min{7w,4w+12j} and she has income $2400, then if the price of whips is $20 and the price of jackets is $40, how many units of whips will Kinko demand?
In 2008 the Fed initiated a program called QE or quantitative easing to try and stimulate the economy. Using a fully labeled aggregate demand and supply graph, show what the objective of this program was. Explain what the new equilibrium point mea..
A restaurant industry has a market structure that comes closest to
Draw Bridgettes budget constraint, putting mystery novels on the horizontal axis. At her consumer optimum, she buys 30 CDs and 15 mystery novels.
If Frank is maximizing profit what is the marginal revenue product of the last worker he hired? What is that worker''s marginal product?
Determine each equationons total revenue and marginal revenue equations. Plot the demand equation and the marginal and total revenue equations on a graph.
Jack shares a small apartment with some roommate. There are many cans of baked beans in the pantry. Jack is very hungry, and consumption of baked beans yields marginal benefits to Jack of 16-3Q, where Q is the number of servings of beans. The beans m..
Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Speculate on whether or not the price change that you identified was a result of a change in either supply or demand. Provide a rationale for your re..
An accountant for a car rental company was recently asked to report the firm's cost of producing various levels of output. What is the average fixed cost of producing 2 units of output? What is the average variable cost of producing 2 units of output..
Why that is the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
how would a fall in u.s. interest rates affect canadian investment saving net foreign investment and the canadian real
Draw a cash flow diagram for each option - Explain option is ultimately the most expensive - Determine the annual percentage yield for each option
Suppose there is a permanent fall in private aggregate demand for a country's output (a downward shift of the entire aggregate demand schedule). What is the effect on output? What government policy response would you recommend?
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