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Ely's preferences for bread and soup can be represented by the utility function U(S,B) = S(1 + B). For this utility function, MUS = 1 + B and MUB = S. Soup costs $1 per pint and bread costs $2 per ounce. Ely has $10 to spend. What is the formula for Ely's MRSSB? Does it have the declining MRS property? What is Ely’s best choice? Please explain how you get your answer.
A company selling widgets advertises through three types of media: print, television and internet. Recently the company has decided to increase its advertising budget by $100,000. In order to determine where the additional money should be spent, the ..
The terms price maker, price setter, and price searcher are all meant to imply the same thing, In monopoly,
What is the equation for the AS curve. What restrictions on the parameters do we need to ensure that AS curve has a positive and nite slope.
Consider the strategic games described below. In each case, state how you would classify the game according to the six dimensions outlined in the text. (i) Are moves sequential or simultaneous? (ii) Is the game zero sum or not? Are cooperative agreem..
Give an example of a companies unique hypothetical weighted average cost of capital (WACC) and rate of return. Recommend whether or not the company should expand, and defend your position
Suppose regression of y on x with a sample of size 37 yields 2 R = 0.4. What is the correlation coefficient between y and x?
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
A large bakery buys flour in 25-pound bags. The bakery uses an average of 4,900 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Compute the total cost of lordi..
Find the monopolist's profit-maximizing output and price - calculate the monopolist's profit and what is the Lerner Index for this industry?
Distinguish between an absolute advantage in trade and a comparative advantage. Explain why it is possible to have a comparative advantage in the production of a good, but not an absolute advantage.
Suppose that the market demand for a monopolist's good is given by the following demand function: P=150 - Q. In addition, suppose that the firm's total cost function is TC = 50 +20Q. Finally suppose that the firm utilized a uniform pricing rule. What..
Why might convertibility be important for the establishment of paper money? Would you expect it to remain as important if the paper money has the status of legal tender? Explain why or why not.
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