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Q1. At Dave's current consumption bundle (involving positive units in both hot dogs and sodas) his marginal utility for hot dogs is 5 and his marginal utility for sodas is 4. If the price of one hot dog is $3 and the price of one soda is $2, is Dave currently maximizing his utility? If not, how should he reallocate his spending in order to increase his utility?
Q2. John spends $I on bottled water which he can buy in two sizes: 0.75 liter and 2 liter. The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water. How to define a utility function?
Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run.
Changes in disposable income affect government purchases and the government purchase function. How do changes in net taxes affect the consumption function.
Assuming fuel is one of the main inputs for many sectors. When a war breaks out in Country X, which is the main producer for fuel in the world, it causes fuel supply disruptions in the world.
Explain an economy is initially in equilibrium at the natural level. The central bank increases the money supply.
Watch the video titled Fear the Boom and Bust. Using the tools of macroeconomics, identify the primary difference between the two philosophies.
Which of these same curve would shift as a result of the per-burger tax. Curves average fixed cost,marginal cost would shift as a result.
The Performance by Patrice (PbP) Company purchased a Centaur Computer controlled manufacturing milling machine for $635,000 for use in its rear end manufacturing operations on November 8, 2007.
Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market.
If one draws MC curves pre and post innovation as well as the Marginal Revenue line for a monopoly and the MR in a competitive situation.
Semiconductor chips are used to store information in electronic products, such as personal computers. One of the early leaders in the production of these chips was Texas Instruments (TI).
If the company has not paid dividends, discuss why think the company is not paying dividends or whether they should consider adopting a dividend policy.
Suppose the point of tangency that characterizes long-run equilibrium for a monopolistically competitive firm occurs at Q1 units of output.
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