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Mathew has the utility function U =vXY (where Y represents apples and X represents hot dogs), income of $20, and is deciding how to allocate that income between apples ($1) and hot dogs ($1).
Mathew's utility function implies that the marginal utility of apples is 0.5vX/Y and the marginal utility of hotdogs is 0.5vY/X. How many apples and hotdogs will Mathew buy?
theme the eu and turkey scenarios to 2050 general guidelinesa. the eu and turkey can be seen in their long-term
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In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
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