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Consider the following utility function: U(X,Y) = max(X, 3Y)
(a) draw the indifferent curve for this utility function.(b) find the Marshalian funtions for X and Y and the corresponding indirect utility function.
Jennifer divides her income between coffee and croissants (both of which are normal goods). The government has decided to impose a tariff on coffee beans in order to promote the coffee industry in Canada. This tariff results in an increase in the ..
1. briefly outline the current state of u.s. policy toward sugar imports and perform an economic cost benefit analysis
Illustrate what are the impacts of an easy monetary policy on the price-level and real output
The United States is one of the worlds, weathiest countries. Think of a recent case in which the dicisions of the U.S. governement were severely consrained by scarcity. Describe the trade-offs that were involved. What were the opportunity costs of..
Show that, with a linear demand curve, the imposition of a per-unit tax on a monopoly will cause price to rise by less than the tax. Would this be true for a constant elasticity demand curve?
Assume the government increases education spending by $20 billion. How much additional consumption will this increase cause?
part-11.utilizing the link below and the instructions to follow create a graph of the us gdp relative to debt from the
What happens to the real interest rate, output, consumption, and investment in the short run (in which the price level is fixed)? What happens in the long run to the real interest rate, consumption, investment, and the price level?
Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional p..
Explain how can you apply what you learned about the concepts of supply and demand from the simulation to your workplace.
Elucidate that specialization and trade can move both countries beyond their production possibility frontiers.
Restaurant Marketing Services, offers affinity card marketing and monitoring systems to fine dining establishments nationwide. Fixed expenses are $600,000 a year.
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