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Determine whether the following linear programming problem is infeasible, unbounded, or has multiple optimal solutions. Draw a graph and explain your conclusion.
Maximize 50x + 100ySubject to:2x + y > 152x + 2y < 10y > 5x, y > 0
Suppose the price of the good, P, increases to $2.00. Now what is the price elasticity of demand, and what is the cross-prices elasticity of demand.
Graph the answer and shade or show if it has a feasible solution, is unbounded, has no solution, has multiple solutions or is redundant.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Assume the marketplace for milk. For each of the following events, state whether it affects supply or demand (or both, or neither), which direction supply/demand shifts.
Select a nation that has a low per capita income and discuss how the catch-up effect would work for that country. Consider the determinants of productivity and explain some of the things that would tend to prohibit or limit that country's ability ..
Decrease demand will send the price down again. It is uncertain, therefore, that the tax will really raise the price.
What happens to the interest rate if the money supply increases from 20 to 30? Illustrate your answer graphically. What happens to the interest rate if nominal income increases by 10%? If the Federal Reserve Bank wants to increase the interest rate ..
What was the growth rate of nominal GDP between 1999 and 2000? (Note the growth rate is the percentage change from one period to the next).
what aspects of your decison-making process fit the description of a rational choice. did you consider costs and benifits?
What is the total welfare (i.e., total surplus) at this outcome? d. What is the optimal level of pollution? What is the optimal level of pollution abatement? e. What is the total welfare (i.e., total surplus) under this optimal outcome?
What is the opportunity cost of going to a doctor to be examined for skin cancer? Would eliminating research reduce or increase the cost of U.S. health care?
Describe regarding the best solution for preventing someone from making illegal copies of music files.
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