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Sage has $80 to spend this month on CDs and/or DVDs. A CD costs $10 and a DVD costs $20.
a) Draw Sage’s budget constraint (or budget line), with the number of CDs purchased on the vertical axis.
b) What is the opportunity cost of the second DVD?
c) Indicate on your graph the combination point showing Jane consuming 8 CDs and 4 DVDs (label it A). What can you say about this particular point?
d) List three changes that would allow Jane to consume both 6 CDs and 2 DVDs. Show the effect of each on her budget constraint on your graph.
Consider the following simple model with investment and government spending exogenous: Derive the change in Y associated with an increase in taxes T. Show the results graphically and algebraically. What is the tax multiplier?
A parent has a pile of toys to divide between two children. Assume that there is an even number of each toy. What method of dividing the toys ensures that the final division is efficient? Divide the pile arbitrarily, and then let the children trade t..
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
What is the equilibrium level of national product? What is the government's budget surplus?
q.in a certain city where all parking is controlled by the city it is possible to provide parking facilities in the
elucidate why not and propose a mechanism that might solve your dilemma.
"Exotic" mortgages became popular in part because they allow someone of:
In markets economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the diference.
Suppose a candidate who runs on a platform of soak the rich wins the 2012 presidential election. After being elected, he or she persuades Congress to raise the top marginal tax rate on the federal personal income tax to 65%.
For both options, your interest rate is 6% compunded monthly. If the car has a value of S after the 36 months period, what is the value of S that would make both options A and B economically equivalent?
George is going to replace his car in 3 years when he graduates, but now he needs a radiator repair. The local shop has a used radiator, which will be guaranteed for 2 years, or they can install a new one, which is "guaranteed for as long as you own ..
there are n ge 3 doctors who have created a partnership. in each period each doctor decides how hard to work. let eti
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