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With the per-unit prices of broccoli (b) and pork rinds (r) equal to $2 and $1, a consumer, George, with an income of $1000 purchases 400R and 300B. At that point, the consumers MRS = 2r/1b. Does this man that george would be just as weel off consuming 200R and 400b?
Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency. 15) The fact that U.S. managers' salaries are substantially greater than tho..
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
Identify & describe two different roles that interest rates play in the economy. Does a change in an interest rate indicate that a change in some part of the economy is occurring Explain.
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
A solar-water heating system uses solar panels on the roof of a large build, 40.0 m above the storage tank. The pressure at the panels is 1 atmosphere. What is the absolute pressure at the top of the tank?
When international hostilities increase, the United States government will sometime use trade sanctions instead of military action.
Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..
Michelle spends her weekly income of $50 on two goods: cans of hairspray and bottles of nail polish. The price of a can of hairspray is $5 and the price of a bottle of nail polish is $4. If the price of a bottle of nail polish falls to $3:b. the o..
Suppose the government imposes a tax of $1 per unit to reduce widget consumption and raise government revenues. What will the new equilibrium quantity be? What price will the buyer pay? What amount per unit will the seller receive?
Determine the optimal size of the shopping center (to the nearest 100 square meters) based on existing estimates of the demand for retail space.
You put $20000 on deposit on your thirtieth birthday at 5 percent compounded annually. On your fortieth birthday, the account begins earning 6 percent. Then on your fiftieth birthday, it begins earning 7 percent.
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