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Suppose that the price of good x is $30 and the pice of good y is $30 and a bypothetical consumer has $600 to spend per period on goods x and y a. sketch the consumers budget constraints. be sure to indicate precise quantities on the axes B. assuming that this consumer achieves her optimal, equilibrium market basket of X and Y, what is her marginal rate of substitute.
Many cities have experienced a substantial decrease in the amount of garbage being collected after they changes from levying a tax on each household to pay for the pickup to charging a fee for each bag or can picked up.
Should sports leagues be allowed to remain as cartels? More than 100 years ago, the American legislative leaders decided that it was necessary to pass laws prohibiting "...any combinations or conspiracies in restraint of trade." However, the professi..
Suppose that the Federal Reserve System set the required reserve ratio equal to 0.2 and that the banking system holds ?$70 billion in excess reserves. If the amount of deposits is ?$3000 billion and the amount of currency holdings is ?$55 ?billion, t..
Which of the following is a method for the Federal Reserve to control the supply of money? Open-market operations refer to the Federal Reserve: What determines the weights for calculating the Consumer Price Index?
Firm A is the incumbent in a market and currently enjoys a monopoly. Firm B is a potential entrant. The demand in this market is p = 6 - (qA + qB), where p is the industry price of output. Both firms produce output costlessly.
Describe the main conflict between the sioux and the U.S. What was the culmination of these issues? What was the fate of the sioux? What is the turner thesis? How do differing theories oppose it? Describe how certain tribe’s resisted and ensured thei..
Determine the optimal bundle of x1 and x2 given the stated prices and income using one of the methods we went over in class.
What is the effect of an increase in the investment rate on the level of steady-state output per worker in the Solow model? What is the effect of an increase in the investment rate on the growth rate of output per worker in the model? Illustrate and ..
The Gross Domestic Product is constantly in the news in the United States. This year, we are looking at an annualized growth rate of between 2.2% and 2.4%. Over the past 60 years or so, the GDP has grown on average 3%. have circumstances changed wher..
q.a country that does not currently tax cigarettes is considering the introduction of a 0.40 per pack tax. the
Transit buses on a local San Francisco run carry 1000 passengers a day who are each charged 50 cents. The marketing department feels that by raising the price to 75 cents, ridership will decline by 200 persons (to 800 passengers a day). Suppose these..
For a normal good, the income and substitution effects
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