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A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function:u(x1; x2) = min {2x1 + x2; x1 + 2x2}a. Draw the indierence curve for u(x1; x2) = 20.b. For what values of p1/p2 will the optimum be x1 = 0?c. If neither x1 and x2 is equal to zero and the optimum is unique, what must be the value of x1/x2?
The first is a 15-year to maturity bond with a 6.60% coupon rate, paid annually. The price of this bond today is 100% of face value. The second bond is a 20-year to maturity bond issued 7% coupon rate, paid annually. The price of this bond is 101...
Since Fall of 2011, the price of oil has shown a sharp increase again as continuation steady rise in oil price attributed to the Arab Spring (the political uprising in the Middle Eastern and North African countries) started in the beginning of 201..
2. Find the marginal utility of good x2 3. Calculate the Marginal Rate of Substitution between good x2 and good x1: MRSx2,x1 = (du(·)/dx2)/(du(·)/dx1) 4. Equate this marginal rate of substitution to the ratio of prices : (Px2)/(Px1)
Suppose that Belgium cocoa beans can be sold in the U.S. The U.S. demand schedule for Belgium cocoa beans is as follows: Price of Belgium cocoa beans (per pound) Quantity of Belgium cocoa beans demanded (pounds)
The machine will save $50,000 in labor annually. The machine can be purchased today for $200,00 and will be used for 10 years. It has a salvage value of $10,000 at the end of its useful life. The new machine will require an annual maintenance cost..
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Suppose the central bank wants to achieve an inflation rate equal to 1% and the current growth rate of real GDP is 2%. If the quantity theory of money holds, what should the Fed set the money growth rate equal to
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
(Amounts on the balance sheet are in millions of dollars.) Assets - Reserves $15.90 Loans $150.00 Securities $34.10 Total - $200.00 Liabilities + Capital - Transactions deposits $180.00 Equity capital $20.00 Total - $200.0 Calculate the bank's exc..
a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market b. If the actual price in this market were ABOVE equilibrium price, what would drive the price toward the equilibrium
You are an economic consultant to a city that just imposed a payroll tax of $1 per hour of work. This payroll tax is paid by workers through a payroll deduction: For each hour of work, the employer deducts $1 and sends the money to the city govern..
a. Identify the number of people employed, the number of people unemployed, and the number of people in the labor force. b. Calculate the labor force participation rate, the employment rate, and the labor force unemployment rate
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