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Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always willing to exchange three black shirts for one red shirt.
a. Draw several indifference curves to illustrate Carl's preferences.
b. What is Carl's MRS?
c. Are Carl's preferences monotonic? How do you know?
d. Are Carl's preferences convex, strictly convex, or not convex? Explain /show how you know
According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
q1. competition in quality and service may be just as effective as price competition in giving buyers more for their
From the scenario, suggest substantive ways in which Herb and Renee may use the information in the table in order to ascertain the profit maximizing level of output and price. Provide a rationale for your decision.
Suppose you have $500 in savings when the price level index is at 100. (a) If inflation pushes the price level up by 10 percent, what will be the real value of your savings?
Prepare a Cash budget for the Quarter ending 30th September 2014 and prepare a schedule of cash receipts from debtors for the period ending 30th September 2014.
Illustrate what is james price of producing potatoes what is james opportunity cost of producing chickens which person has an absolute advantage in which activities which person has a comparative.
A 30-year mortgage for $95,000 is issued at a 9% nominal interest rate. What is the monthly payment? How long does it take to pay off the mortgage, if $1,000 per month is paid? How long does it take to pay off the mortgage, if double payments are mad..
q.it is now january 1 2012. today you will deposit 1000 into a savings account that pays 8.a if the bank compounds
Suppose the U.S. and Mexico both produce 2 goods, tablets and cereal, using 2 inputs, capital (K) and labor (L). The production of tablets is capital-intensive, and that of cereal is labor-intensive.
In addition to wages, what other factors influence an individual to choose one job over another? Consider jobs like those on some popular TV shows like Deadliest Catch and Ax Men. While these individuals are not guaranteed a high salary, why might th..
1 which of the following is not a high energy density source of energya solar energyb nuclear energyc all of the
In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. Cite as many examples as you can of these types of businesses.
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