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Suppose, unfortunately , your mathematics and economics professors have decide to give tests 2 day from now and you can spend only a total of 12 hours studying for exams .After some thought, you conclude that dividend your study time equally between each subject will give you an expected grade of C in each course For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject, and your grade will fall one letter for the other subject.
a. Construct a table for the production possibilities and corresponding number of hours of study in this case. b. Plot these production possibilities data in a graph. c. Does this production possibilities curve reflect the law of increasing opportunity cost? Explain.
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
How does the resulting change in the slope of the aggregate demand curve help stabilize inflation when the economy is hit with a temporary negative supply shock?
Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
Choose an existing good or service from Will Bury's Price Elasticity, Incremental expenses, or Thomas Money Service Corporation scenarios, or choose an existing business with which you are familiar.
Suppose that a student who has completed her undergraduate degree and is planniing pursuing an MBA as a full time student. The cost of the second year MBA program she is planning is $45,000 for tuition.
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means. Derive an expression for the (inverse) demand curve for Einsteins's Bagels.
Explain the predicted impact, other things equal, on the terms of trade of developing countries of relatively slow growth in demand for developing countries goods by developed countries combined with relatively rapid growth in demand by developing..
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
Consider an industry made up of 8 firms.the market shares of 6 firms are 10% each. The market shares of the remaining two firms are 20% each. would a merger between firms 1 and 2 be likely to be challenged by the government
A firm has a cost function given by the following: Find the firm's production function, y= f(x1, x2).
The U.S. imposes a quota of 45 million units per month on this good and what will be the price U.S. consumers will pay for the good now?
Illustrate the impact of food stamps worth $100 compared to a $100 cash transfer on Joe's budget set b. Starting this month, Joe would receive food stamps worth $100 per month. How much more food would he buy this month if food on average costs $2..
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