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Answer the following questions about consumer preferences:
a. If Julie prefers Diet Coke to Diet Pepsi and Diet Pepsi to regular Pepsi but is indifferent between Diet Coke and Classic Coke, what are her preferences between Classic Coke and regular Pepsi?
b. If James purchases a Ford Mustang rather than a Ferrari, what are his preferences between the two cars?
c. If Julie purchases a Ferrari rather than a Ford Mustang, what are her preferences between the two cars?
d. James and Jane are having a soft drink together. Coke and Pepsi are the same price. If James orders a Pepsi and Jane orders a Coke, what are the preferences of each between the two colas?
Discuss why you would not expect all industries to have a similar relationship to the economy. Give an example of two industries that have different relationships to the economy. Please discuss your findings and how the economy will affect them diffe..
If the company were to build the bridge, illustrate what would be its profit-maximizing price. Would that be the efficient level of output.
explain the statement that an individual bank has little ability to expand the money supply unless all the other banks
What health programs target the three major components of a national health policy: structural determinants of good health, lifestyle determinants, and socializing and empowering determinants?
Explain what the lock-in effect is for capital gains that are taxed on realization. How can the effect lead to inefficient allocation of capital? b. Explain what a Roth I.R.A. is and show how its availability affects a competitive consumer's budget s..
We see the U.S. tends to import more goods than they export. Regardless of the imbalance of trade the U.S is still an economically competitive country. Do you think trade is just a small component of what makes a country economically successful?
The agreement required the tobacco companies to pay the states $246 billion over twenty- five years. The tobacco companies are going to have raise prices to be able to pay the states.
demand for a good of an industry is given by the equation pq=100, where p is the price and q is quantity and supply is given by the equation 20+3p=q. find out the equation price and quantity
Currently what indictors are evident that There is too much or too little money within the economy? How is monetary policy aiming to adjust This?
How a tariff imposed by a small country on its imported good causes a loss of real income, in the sense of lower utility, or "well -being" on the part of consumers?
What are the differences between economic and accounting concepts of cost? How are prices determined under perfect competition? How are prices determined under monopoly?
Elucidate what does either player have a dominant strategy. Explain is there Nash equilibrium in this game.
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