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Mike suffered some injuries during the robbery and filed suit against Produce Market for not maintaining a secure environment for its customers. In an out-of-court settlement, Mike receives $12,000 for his physical injuries, $2,000 for emotional distress, and $3,000 for lost wages while he recovered from his injuries. Mike paid $11,000 in medical expenses attributable to treatment for his injuries but was able to recover from his emotional distress without medical care. How much gross income does Mike have as a result of this settlement?
You are a pricing manager at Argyle Inc. - a medium-sized firm that recently introduced a new product into the market. Argyle's only competitor is Baker Company, which is significantly smaller than Argyle.
By how much has the Franc enchanced or depreciated against the dollar.
General Electric is a large, highly decentralized company. At present it developed these goals, GE had approximately 170 responsibility centers called "departments,"
Imagine a person's utility function over two goods, X and Y, where Y represents dollars. Specifically, assume a Cobb-Douglas utility function:
Read "A Possible Perspective on Growth and Stagnation Over the Past 200 Years" posted on Blackboard. a. Describe the 4 reasons that Acemoglu gives for why the world did not experience growth before 1800.
Discuss and explain the relationship between the level of GDP and economic well-being. What factors of well-being are missing from the GDP?
What is the difference between the real interest rate and the nominal interest rate? How would not knowing the difference effect perceptions of the economy and affect people's decisions?
Citrus Speculation and Forecasting, Inc., has been recruited by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below.
Starting from the uncontrolled level of pollution claculated in part c, find the marginal willingess to pay for polloution abatement, A, for each consumer class (Abatement is reduction in pollution; zero abtement would be associated with the unctr..
Assume the market for computer chips is dominated by two firms: Intel and AMD. Intel has discovered how to make superior chips and is considering whether or not to adopt the new technology.
Use the utility function to answer the questions, below: (x1, x2) = exp (√(x 1 ) + √(x 2 )-Derive the Marshallian (ordinary) demand function for good1 and 2, x i *(p,l), i =1,2 . Then derive the indirect utility function (p,l).
Explain how does this compare to other industrial economies. What is your opinion on this relationship of the budget deficit to GDP.
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