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1. Presume Richard has an after-tax income of $500 per week and should spend it all on food or clothing. If food is $5 per pound and clothing is $20 per piece, draw his budget line on a piece of graph paper, where the amount of food is gauged along the vertical axis and the amount of clothing is measured along the horizontal axis.
2. Sarah has $300 to allocate among opera tickets and movie tickets. The price of each opera ticket is $60, and the price of each movie ticket is $6. Her marginal rate of substitution of opera tickets for movie tickets equals 5, regardless of what market bundle she chooses. How many opera tickets does she purchase?
Others meter water use and charge according to the quantity of water customers use. Compare the way the two systems would affect the cost of water use at the margin and the use of water by rational consumers.
Eve bought defective ball bearings from Saginaw Corp. Alfred was the sole shareholder of the company and also its landlord. After Alfred sold all Saginaw's assets, he withheld enough money to cover the rent that Saginaw owed him. As a result Sagin..
how does a government budget deficit affect the economy? identify two periods in recent history in which the united
Imagine your company has put you in charge of developing a sustainability plan, a common framework your organization will use to achieve its sustainability goals. Devise two strategies you would have your company adopt, and explain why you believe..
Calculate the cross-price elasticity of demand and are the goods complements or substitutes
Within rich economies, there is strong evidence of convergence ________.for regions within a country.with developing economies. leading to military conflict.
a recent flood in the midwest has destroyed much of the farmland that lies in fertile regions near the rivers. describe
What is the effect of the tax on the monopolists profits?
Students at the University of California, Los Angles, enjoy select privileges. One is a good education at a low price. Another is California’s unbeatable weather, and a third is access to discounted movie tickets
1. why do you suppose that the market clearing interest rates on bank savings and time deposits have been rising
Describe the opportunities that might be available through better use of information technology (IT) in the U.S. health care system. What might explain the system's failure to better capitalize on these opportunities
Question on vertical integration
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