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Individuals ought to consume additional units of goods and services if their marginal: A. cost exceeds its marginal benefit. B. benefit is still positive. C. cost equals its marginal benefit. D. benefit exceeds its marginal cost.
Explain how would Margaret's indifference map look like. What is the Marginal Rate of Substitution (MRSA,B) between good A and B.
Which of the following statements best describes the concept of a binding price floor. Suppose that the equillibrium price of donuts is $1.00 per donut.
Consider a Cobb-Douglas utility function of the type u(x,y) =x2y2. The prices of the two goods x,y are px = $2 and py=$4 consumers income is given by m=$100. find the optimal basket containing these two goods. find the demand functions for x. Must be..
Explain how does a firm solve this pricing problem to maximise profits. Explain, using a diagram to support your answer.
Prepare a composite (weighted) index for housing construction costs in 2008 with the following data:
Your company is contemplating replacing their current fleet of delivery vehicles with Nissan NV vans. You will be replacing 5 fully-depreciated vans, which you think you can sell for $3,300 apiece and which you could probably use for another 2 years ..
david gets 3 per month as an allowance to spend any way he pleases. since he likes only peanut butter and jelly
What is the future worth of an equal quarterly payment series of $2500 for 10 years if the annual interest rate is 9% compounded monthly?
Calculate the percentage rates of increase in real GDP, consumption of durables, consumption of nondurables, and consumption of services, and plot these. What do you notice in these plots compared to the information in Figure 3.9 and 3.10.
A firm with fixed costs always has losses for low levels of output. A firm with fixed costs must incur economic losses if it chooses not to produce output. A firm with fixed costs can’t maximize profit in the short run.
Why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips.
Compare to provide also demand conditions in both locations. How many people live in every place.
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