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Given the following Utility function: U=(2X1X2+3X1^2)^3 x2 1. Find the marginal utility for x1 and x2. Do not simplify the function. work it in form given 2. Show mathematically whether the marginal utility for x1 and x2 is increasing or decreasing 3. What is the marginal rate of substation for this utility function?
A researcher estimated that the price elasticity of demand for automobiles in the United States is -1.2, while the income elasticity of demand is 3.0. Next year, U.S. if sales of domestically produced automobiles do expect U.S auto makers to sell nex..
Suppose the government spends $500M on a project that has absolutely no value to the country. If taxes were raised $500M to fund this project, the Keynesian model predicts that this will have no net effect on output in the economy. If the government ..
Using appropriate models or theories, explain the economic intuition (logic) behind the following events. An increase in money supply leads to a fall in short-run interest rate. An increase in real income leads to a rise In short-run Interest rate
Write down the consumer budget constraints when young also when old the consumer lifetime budget constraint the government budget constraint also the market clearing conditions.
What is the "purchasing power parity" theory of exchange rates? If the price of a representative bundle of tradable goods is currently $5000 in the U.S. and 550000 yen in Japan, is the $ undervalued or overvalued when the exchange rate is 90 yen per ..
Assume that a firm employs labor and capital by paying $40 per unit of labor employed and $200 per hour to rent a unit of capital. What is the firm's optimal combination of capital and labor?
What are some of the problems and challenges of the different types of taxes available to government? How do you think they could be resolved?
Consider now an economy where you need to search for a job. Let b be the fraction of people that do not have a job and are searching for one. Here active population and working age population do not coincide. Let s be the job separation. Write the eq..
Which of the three sociological perspectives (Functionalism, Conflict Theory, or Symbolic Interactionism) best explains the social problems that exist in society? Why do you think the perspective that you chose best explains social problems?
Wheat can only be sold at a central market place M. All producers that do not produce it at M need to haul it there in order to sell it and will incur transportation cost. People are willing to pay $222 per ton of wheat; its marginal production cost ..
Apply the coefficient-of-variation decision criterion to these alternatives to find out which is preferred by the angel investor, assuming that he/she is risk-averse.
What rate of return would you expect on a 1 year treasury security, assuming the pure expectation theory is valid? use arithmetic average.
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