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Microsoft and a rival often have to select from competing technologies. The rival always prefers to select the same technology as Microsoft, while Microsoft always wants to select a different technology. Describe the equilibrium of this game.
A firm produces two products, X and Y. The production technology displays the following costs, where C(i,j) represents the cost of producing i units of X and j units of Y:
Calculate the multiplier if the economy is closed and the multiplier if the economy opens up. Explain the economic intuition why two are different with 3-5 sentences. Solve for the equilibrium level of income (Y) for the open economy (Yopen) and calc..
The production of any goods or services requires the allocation of resources that otherwise could be used to produce other goods and services, given the available technology.
How do bribery and corruption influence the economy negatively? Answer and explain three major impacts.
Explain why a bundle of goods cannot be optimal (i.e., why some other bundle must be a better choice) if the marginal rate of substitution (MRS) at this point is not equal to the ratio of the goods’ prices. A consumer has a current income of $60, whi..
An employer faces two types of employees. Regular workers are 70% of the population and generate $100,000 in productivity. Exceptional workers are 30% of the population, and generate $120,000 in productivity. Employees know their types, and reject sa..
Money acts as a unit of account, medium of exchange, or a store of value. Describe each of these different functions.
As parts of a project to monitor traffic in town, the governor secured a grant for $3.5 million that paid for 200 traffic cameras. If the 200 cameras are equal to 20 police agents, each having a salary of $65,000 per year, what is the rate of return ..
Contract law requires proof that the offeree 'intended' to accept the offer. It is not an uncommon defense for the offeree to allege that she did not intend to accept the offer. How would an offeror prove that the offeree did was bound by the offer a..
1. In the market for a particular good, at a price of $26, the quantity demanded is 300 and the quantity supplied is 450. Which of the following is true?
In about 200 words, explain your feelings of Debian Package Management vs. RedHat Package Management.
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