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Assume a study finds that as people's incomes rise, they tend to buy fewer subway tokens due to they are more likely to have a car. This would mean that subway tokens are
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discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer
determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
1. By using the Production possibility Curve (PPC), analyze the microeconomic theories such as scarcity, choices and opportunity costs. Provide relevant graph with numerical exampl
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
Labour Supply:Total number of workers available and willing to work in a paid position; generally measured by the labour force(even though the labour force usually excludes many wo
You are a member of a problem solving group that is concerned with incidents involving losses with their information system (IS). Let us assume that IS loss events can be grouped i
Q. What is Gini Coefficient? Gini Coefficient: A statistical measure of inequality. A Gini score of 0 signifies perfect equality (in which each individual receives the same inc
when does price and output determined in the unregulated monopoly
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
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