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Consider a consumer who has an experienced utility function given by UEU(x,m)=2sqrtx+m. Let q denote the market price of good x, and assume that it remains fixed throughout the problem. The company selling the good x starts an advertisement campagin that has the following effect on the consumer: he makes decisions as if maximizing a decision utility function given by UDU(x,m)=4sqrtx+m. Write down the expression for the difference between the consumer demand and his optimal level of consumption.
The government is debating whether to spend $100 billion to reduce global warming damage 100 years from now on. It is estimated that $ 800 billion of damage will be averted. A critic of the expenditure says that it would be far better to take the ..
Calculate the monthly consumer surplus for each group before and after the rate increase. Your boss wants a measure of the losses to each group from the rate increase.
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive stra..
Financial markets make it possible for those who have saved money to earn a reward by providing the financing for business formation and expansion. Business owners can seek financing through the stock market, the bond market, or the banking sector..
Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be 55,000 households?
Determine which of the following nations would you expect to have intertemporal production possibilities biased toward current consumption goods,
The manager concluded that they were most likely to win when the third-string team played the most, and he therefore recommended that the third-stringers should become the first string.
Find out the breakeven output and total sales revenues. Estimate the output that would generate total profit of 60,000 and total sales revenue at that output level.
Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur - different markets with changes in either the supply curve or the demand curve.
Now suppose there is another country called Lotech which has not seen the innovations in credit cards and ATMs that Hitech has. If the rate of money growth and the growth rate of real GDP were the same in Hitech and Lotech over this period, then h..
Determine the total tax collected by the government on widgets. How much of this tax is paid by consumers? by producers? Show all calculations and explain your work.
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