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jenny has preferences given by the utility function U(C,L)=C^2L so that the slope of her indifference curve is -c/2L. Johnny has utility function U(C,L)=CL so slope of his indifference curve at any point is -C/L
1. which of them has the stronger prefrence for consumption over lesuire?
2. they both can earn 10$ an hour they both have non-labor income of 300$ per week and they have 110 hours per week of non sleeping time. Who would works the most hours also how much do each of them make per week?
Deficient as the sole mechanism for determining the optimal level of resource employment.
Illustrate what is the effect of the price increase on revenue at the YSU campus store. Calculate the price elasticity of demand for Bottom Feeder Tacos using the mid-point formula.
Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
Illustrate what would be the production possibility frontiers for Brazil as well as the United States.
Which of the following hedging strategies involves a loan without a futures contract.
a company that recently spent $10,000 to develop a statistical software package.
Compute the opportunity costs of going to each concert. Based on the Cost-Benefit Principle, which concert is the best choice.
These 3 basic trade-offs include which goods or services are to be created, how to create them, also who gets them.
If this were the case would there be any automatic stabilizers in the government economy. Would there be any distinction between the full-employment deficit also actual budget deficits.
Extend this comparison by choosing a different point on this period's PPF and discuss whether that combination leads to more or less growth over the next period.
If the prices of pizza and submarine sandwiches double and so does Michael's money income, we can compute that Michael's budget constraint will.
Using a wholesale cost of $4 per case in each state, calculate the breakeven output quantities for each alternative.
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