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Determine whether the following linear programming problem is infeasible, unbounded, or has multiple optimal solutions. Draw a graph and explain your conclusion.
Maximize 50x + 100ySubject to:2x + y > 152x + 2y < 10y > 5x, y > 0
The MidNight Hour, a local nightclub, earned $100,000 in accounting profit past year. This year the owner, who had invested $1 million in club, decided to close club.
We cut down trees and sell the timber for $8000. The timber is sawn up into lumber that sells for $18,000. The lumber is used to build furniture that sells to consumers for $30,000.Which of the following unemployed workers would be an example of ..
Ralph Waldo Emerson once wrote "want is growing giant whom the coat of have was never large enough to cover." How does this statement relate to the definition of economics
What is your price elasticity of demand for gasoline and why? How important is fuel efficiency to you (particularly if you have purchased a car in the past three or four years)? Do your driving habits change as the price of gasoline changes?
Assume that initially the goods and services market is in equilibrium at the potential
The XYZ Co. sells widgets for $10 each. At that price it sells 200 per week. When it reduces its price of a widget to $9, it sells 250 per week. Calculate the price elasticity of demand. Is it elastic, inelastic, or unitary?
Assume you receive a 4% increase in your nominal wage. Over the year, inflation runs about 7 percent. Which of the following statements is TRUE?
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of Q D = 1000 - 10P. Compute the monopolist's profit-maximizing quantity, price, and profit.
During the late 1980' and early 1990's, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing and household..
assuming that the expectations theory is the correct theory of the term structure calculate the interest rates in the
Now suppose that policy makers like to increase national income. Which of expansionary fiscal policy and expansionary monetary policy is more effective to achieve the policy goal? Explain with the IS-LM model.
What would an economists say that the burden of the FICA tax is shared equally. Who bears more of the tax burden Workers or employers.
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