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Suppose Mary enjoys Pepsi and Coke according to the function U(P,C) = 4C + 5P. What does her utility function say about her MRS of Coke for Pepsi? What do her indifference curves look like? What type of goods are Pepsi and Coke for Mary? If Pepsi and Coke each cost $1 and Mary has $20 to spend on these products, how many units of each product should she buy in order to maximize her utility? Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change if the price of Coke decreases to 50 cents.
Marian, a top graduate from Loyola in Humanities, was hired by a major corporation into a management position. Marian finished the corporation's management training program top in her group, and is performing above the norm in her position.
"Senior citizens deserve an income that will allow them to live in comfort for their remaining years."
The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. Firms compete in quantities and they make their quantity c..
The starting salary for a new assistant professor was $35,000 in 2000 and $65,000 in 2015. The value of CPI for 2015 was 164.3 compared to 55.6 in 2000. In which year did a newly hired professor earn more in real the real terms? Show your calculation..
Several states mandate that school district boundaries follow county lines, while other states allow several school districts to locate in the same county. Assume that county size is approximately the same in both of these groups of states. Think abo..
The percentage effect which increase in output will have on the profit made from producing and selling commodity Alpha will be.
The interest rate effect of the price level is reflected in: Changes in aggregate demand can be caused by changes in: The classical model of the price level is associated with: A decrease in the money supply is likely to cause:
q1. using the formula for beta1 and beta0 show what will happen to the estimator of the slope and intercept in the slr
The inverse demand function for grapefruit is defined by the equation p = 317 − 6q, where q is the number of units sold. The inverse supply function is defined by p = 5 + 6q. A tax of $48 is imposed on suppliers for each unit of grapefruit that they ..
what is Marginal Analysis and why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis?
Mary has two sources of income, let her non - labor income be represented by V dollars per year. He r labor income comes from working h hours per year in the labor market at wage rate of w per hour. Assume that her utility is a function of composite ..
A corporation has ten employees, all of whom want a more pleasant work environment. Accordingly, they are considering removing litter from the grounds of plant.
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