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What is the theory of diminishing marginal utility?
Discuss how, why (and whether) consumer demand for gasoline changes when the price of gasoline falls. As part of your answer, indicate what role the theory of diminishing marginal utility plays?
If the customer is rational explain how can use affect their economic decisions
Why is it not surprising to find that in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Bright Future, Ltd (BF) is a non-profit foundation providing medical treatment to emotionally distressed children. Determine the optimal amount of service provided by BF.
Explain why may a government solution to a marketplace failure worsen the market failure.
Explain and discuss the mechanisms by which this has occurred, and contrast our experience with: a) the recent performance of many NICs (newly-industrializing-countries) in the last few decades
It is like the FRB has already tried to stimulate the economy by lowering interest rates
Elucidate the six costs associated with inflation and evaluate which if any of the costs are important for the average consumer.
Assume that there're 10 million workers in Canada and South Korea and each worker in Canada and South Korea can manufacture four cars per year.
If the price set is the profit-maximizing price, elucidate the price elasticity of demand for calculators faced by the plant.
Explain how the distinction between expected and unexpected inflation is important to the distributional effects of inflation.
Problem on standard deviation
Discuss the advantages and/or disadvantages of distributing marketable pesticide permits to each farm operating in the watershed equal to 40% of its current level of use of that pesticide, versus simply ordering each farm to reduce pesticide use t..
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