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Suppose that Central High School has preferences that can be represented by the utilityfunctionU(C,X) =CX2. Let us try to determine how the various plans described inthe previous problem will affect the amount that C.H.S. spends on computers.
(a) If the state adopts none of the new plans, ?nd the expenditure on computers thatmaximizes the district's utility subject to its budget constraint. The Budget is 60'000.
The Answer is 20'000 but how do I get C*= 1/3 x 60'000 = 20'000?
Why 1/3?
Write a short paper in which you describe the macroeconomic factors that caused headwinds for McDonald’s in 2012. Also, regarding the discussion of when McDonald’s introduced its Dollar Menu strategy in the fall of 2002, why was the company assuming ..
In economics, demand for a product is considered downward sloping. This implies that quantity demanded rise when price reduce.
Assume the following game is played one time only. Based on the information in the payoff matrix below, PNC Bank and Citizens Bank are considering an implicit collusive agreement on interest rates. Payoffs to the two firms are represented in terms..
As derived from the Markkula Center for Applied Ethics, which of the following should be one of eight guiding principles.Compliance with the law in every situation or else.
On November 1, 2015, a particular book about fantastic beasts (and where to find them) was being sold by Amazon.com for $107.60. At the same time, this book could be purchase dat the Amazon.uk website for the sterling equivalent of $43.92.
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
Describe how each of these activities economically affects government, households, and businesses - describe the flow of resources from one entity to another for each activity.
Provider B does not have a fixed service fee but instead chaarges $1 per minute for calls. Your friend's monthly demand for minutes of calling is given by the equation Qd= 150-50P is the price of the minute?
Describe two types of specialization in production. What are the economic advantages of specialization and what are political business cycles, and how could they be created?
(a) What is the expected value of v? (b) What is the expected value of v, given that the seller accepts theoffer? (c) What is the buyer's equilibrium value of b?(d) Explain this result.
Describe and graph (using AD/AS framework) an example in today's news of fine tuning economy. Assume the MPC in an economy is 0.8, the APC is 0.8 and disposable income is $9 billion. If disposable income increases to $14 billion, what is the new le..
Assume the total demand for fish and the total supply of fish per month in the Kansas City fish market are as follows:
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