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If you know that the marginal utility per dollar spent on product Alpha is less than the marginal utility per dollar spent on product Beta, consumers who spend all their income on these two products can:
A. Maximize total utility but not marginal utility
B. Maximize marginal utility but not total utility
C. Increase total utility by buying more of Beta and less of Alpha
D. Increase total utility by buying more of Alpha and less of Beta
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
conomist Robert Fogel focused on which of the following factors as one determinant of long-run economic growth.
Now suppose the economy currently produces 2,500 garments of clothing and 3,000 bushels of wheat, illucidate which is represented by point B. Under these conditions, the opportunity cost of producing an additional
Here is a "dynamic technology" question - When it comes to automobile production it is an accepted fact that American automakers did not readily adopt and use Asian and European technologies in the production of cars. The result was a loss of global ..
How many Argentine pesos would it cost given the new exchange rate you just calculated.
Illustrate graphically the effects of both policies on the market for cigarettes. In your discussion answer the following: Are these two programs at odds with the goal of reducing cigarette consumption?
In a perfectly competitive market the market demand for a good A is P=50-Q and the market supply is p=5+0.5Q. find the equilibrium price, quantity and the total welfare in this market. a unit tax=$15/unit is imposed on good A. calculate the amount of..
Use the income statement below to find the financial ratios for (a) cost of goods sold, (b) gross profit, (c) operating expense, and (d) net income before taxes.
Sterling, Inc. is a manufacturer of state-of-the-art computers. For the past ten years, Sterling has acquired all of its microchips from NoBugs Corporation, the only producer of chips meeting Sterling's high specifications. Write a discussion of the ..
Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.
The article touches on two crucial conditions for a fiscal stimulus to work.
Why do Fed policies aim to keep the level of interest rates low in recent years? How have those rates shaped employment, income, and prices? Could these low U.S. interest rates cause inflation?
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