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Tom consumes positive quantities of both jam and juice. the price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 55. Without changing her total expenditure, how should she adjust her consumption in order to increase her total utility?
The income elasticity of demand for your firm’s product is estimated to be 0.75. A recent report in The Wall Street Journal says that national income is expected to decline by 3 percent this year. What should you do with your stock of inventories?
In the United States we have a only few laws for the states to obey. Therefore, in contrast to the federal budget, the budgets of the individual states-------
honda accord owners are fiercely loyal to their auto choice. while interviewed by representatives of honda number one
Illustrate what money supply should the Fed set in year 2009 if it wants to keep the price level stable.
Describe a positive or negative situation arising from an organization structure within an internationalcompany. Explain why a good organization structure is important to companies.
If the reserve ratio set by the Federal Reserve is 20% then what is the deposit multiplier? Your answer is-----. If the initial total reserves were 200 what level of total deposits the banking system can create? (Assume it is the simple banking syste..
Suppose the production function for a certain good is a simple Cobb-Douglas function without a technology component. What’s the short run production function? Given this SMC how much will this firm produce at a price of $40? What’s the total cost, to..
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
The country of Meditor uses the merit as its currency. What were its consumption and government expenditures on goods and services.
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
Find out QD and QS when cost of good X is $12.00. Is re a surplus or shortage. Illustrate what should happen to cost of Good X to drive it to Equilibrium.
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