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Suppose that the residents of Veggie land spend all of their income on cauliflower, broccoli, and carrots. In 1998 they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 1999 they buy 75 heads of cauliflower for $225, 80 bunches of broccoli for $120, and 500 carrots for $100. If the base year is 1998, what is the CPI in both years? What is the inflation rate in 1999?
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
Provide a brief, four (4) sentence summary of the background of the case and the outcomes of the lawsuit. Examine both the positive and negative effects that the company in question experienced.
Supply of Loanable Funds, e.g., your disposable and expected future income. Discuss and predict how your decisions and transactions in the loanable funds market should change.
Elucidate what set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.
Knowing that there are different methods to compute the depreciation of an asset, which method do you think is best for taxable deductions and paying less taxes and why? Which you prefer to choose?
the manager wins with a payoff of 20, and the auditor loses with a payoff of - 20 . If the actions don't match, the auditor wins with a payoff of 20, and the manager loses with a payoff of - 20. Diagram this game and comment on the equilibrium.
Consider a game of delegation. An uninformed principal must delegate some task to an informed agent with preferences imperfectly aligned. I'm aware of plenty of literature that studies these kinds of problems when there is a continuous action space, ..
Seth is a competitive body builder. He says he has ti have his 12 oz package of protein to " feed his muscles" every day. On the basis of this information, what can you conclude about his price elasticity of demand for protein powder?
What is a socially responsible effort? Social responsibility comes from the belief that people, governments, and organizations have a responsibility to the greater welfare of society
According to the traditional view, in what direction is the slope of the production function, with capital per worker on the horizontal axis and output per worker on the vertical axis?
The equation for a demand curve has been estimated to be Q=100 - 10P + 0.5Y. what is income elasticity? what is price elasticity?
What level of output should you produce in the short run?b. What price should you charge in the short run?
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