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a) Often, we assume that consumers have diminishing MRS. Explain what that means and how it is reflected in indifference curves.
b) Can you draw an indifference curve that does not have diminishing MRS, but that is still allowed?
Industry structure is often measured through calculating the Four-Firm Concentration Ratio. Assume you've an industry with 20 firms and the CR is 30%. How would you describe this industry?
For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility
Cypress River Landscape Supply is a larege wholesale supplier of landscaping materials in Gerogia. Cypress River's sales vary seasonally; sales tend to be higher in the spring months than in other months.
Describe the difference between the specialist, market maker and electronic system for trading stocks. What are the benefits and detriments of each system How is the difference between the real estate market and the financial markets reflected in ..
the mean sales for tire sales of ntb is 1100 the standard diviation is 50.a. according to chebyshevs theorem what
Sustained increases in the money supply lead to inflation
Suppose you purchase a 3-year, 5-percent coupon bond at par and hold it for two years. During that time, the interest rate falls to 4%. Calculate your annual holding period return. Assume that the coupon bond has a face value of $100.
Populations tend to grow over time, meaning there are more workers. In order to maintain a constant level of worker productivity, the total amount of capital available to them must:
Does this production function exhibit constant, increasing, or decreasing returns to scale and find the marginal product of each factor and the marginal rate of technical substitution.
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occures at the end of the first year. Each successive year yields a return that is 10 percent less than the previous year's return. If money is worth 5 percent, what is the equiv..
Can you explain this to me. Scatterplot Y=Weight in April X=Weight in September Histogram (Frequency Counts) Weight in September Histogram (Relative Frequency %) Weight in September Histogram (Frequency Counts) Weight in April Histogram (Relative ..
A consumer receives income y in the current period, income y in the future period, and pays taxes t and t' in the current and future periods, respectively. The consumer can lend at real interest rate r. the consumer is given two options. First, he or..
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