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Suppose that before the drought, the price of broccoli was $19/bu., and 260,000 bushels were sold each month. After the drought, the price of broccoli rises to $21/bu. How many bushels are now sold, after the drought? The price of elasticity of demand for broccoli is 0.8
Linda loves buying shoes and going out to dance. Her utility function for pairs of shoes, S, and the number of times she goes dancing per month, T, is U(S, T) = 2ST, so MUs=2T and MUT=2S
bayer schering pharma ag germany owns the alka-seltzer which was launched in 1931 and was meant for relief of minor
A firm's stockholders expect a 15 percent rate of return, and there is a $22 M in common stock and retained earnings. The firm has $9M in loans at an average rate of 7 percent. The firm has raised $14M by selling bonds at an average rate of 5 percent..
what have we learned about the sustainable use of resources and the ability to maintain the ability to produce into the
Bob has an income I = $1000 to spend on clothing and food. Letting y represent the number of units of food and x represent the number of units of clothing that he purchases, his utility function is given by:
how did the bretton woods system operate? what caused its collapse? some think the current system of managed but
Neoclassical economics was 'a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour'. Discuss.
Efficiency wage models are sometimes used to explain the existence of involuntary unemployment in the labour market. Provide a short description of the shirking model. Why can it be in a firm's interest to increase the wage above what is paid by o..
Other things being equal, what will happen to automaker's profits if they are able to sell more vehicles using battery packs and thereby scale up battery production? Why do you presume that some automakers support the payment of government subsidies ..
bull what is the regulation or statute for?bull who does the act protect?bull what are the consequences for
The "crowding-out effect" suggests that A. excessive population in the cities is pushing people into the suburbs.B. if consumption spending increases investment spending must decrease. C. tax increases are paid primarily out of saving and, therefore,..
What are the primary differences between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price? How do we compensate for these differences in order to improve the "common ..
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