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Suppose there are only two people, Mr. Moore and Mr. Huang, who must split a fixed income of $100. For Mr. Moore, the marginal utility of income is MUM=300-7IM while for Mr. Huang, marginal utility is MUH=50-(1/2)IH . where IM, IH are the amounts of income to Mr. Moore and Mr. Huang, respectively. A) What is the optimal distribution of income if the social welfare function is additive? B) What is the optimal distribution if society values only the utility of Mr. Huang? What if the reverse is true? Comment on your answer. C) Finally, comment on how your answers change if the marginal utility of income for both Mr. Moore and Mr. Huang is constant such that MUH=400= MUM (This one is subtle.)
What are the primary types of risk that investors or companies exposed to when dealing in the international financial markets What are the primary ways one can protect themselves from this risk
Harvard, Yale and Princeton all charge relatively high tuition. Still each uses ACT and SAT score as admission criteria. Are charging a relatively high tuition and using standardized test scores inconsistent
The fixed costs at Harley Motors are $1 million annually. The main product has revenue of $8.50 per unit and $4.25 variable cost. Find out the following.
You currently take the subway to work. although taking the bus is cheaper, the ride takes longer. so you are willing to pay the higher subway fare in order to save time.
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the chosen product and explain how the necessity of a good and the availability of substitutes impact the price elasticity of the prod..
Write a one-page policy brief that addresses the questions above and write in paragraph form and do not number the paragraphs.
Analyze the characteristics of each of these goods. Focus on the characteristics that define each good as public or private.
Further, assume that the countries have similar resource endowments and that, initially, they are not trading with each other. Therefore, each of the countries has to produce both rice and tea for its citizens. Suppose that, in the no-trade situat..
Which piece of information is more important in the utility maximization process: marginal utility per unit of the good or marginal utility per dollar? WHY?
Determine the effects on American wages and purchasing power of continued outsourcing of labor overseas. Find some of the reasons for these trends.
1. What types of things do you need to consider if you want to change your default electives? What resources will you use to help you to make your decisions? 2. Are you satisfied with your default electives or do you think you should choose alterna..
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