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Santa Claus has preferences between milk and cookies. Draw indifference curves to represent the following types of preferences: a) Santa likes milk and cookies, and always gets the same satisfaction from 1 ounce of milk as he does 2 ounces of cookies. b) Santa likes cookies, but dislikes milk. c) Santa likes cookies, and neither likes or dislikes milk. d) Santa always consumes 1 ounce of milk with 2 ounces of cookies, or in that proportion (ie 2 ounces of milk and 4 ounces of cookies, etc)
At 25 cents apiece, Mrs. Brown sells 100 candies per week. If she drops his price by 20 cents, her weekly sales will increase to 110 candies per week. Is the demand for candies elastic or inelastic? Provide three everyday examples to illustrate what ..
What are the benefits and drawbacks of having a health program that varies by state versus having one that is uniform across the country? Do you find that the positives of state flexibility outweigh the negative or vice versa? Is it fair that similar..
How harmful is the public debt? Are you concerned about the public debt? Why or why not? Was it wise for the government to use expansionary fiscal policy during the Great Recession even with the effect on the public debt? Do you feel that the benefit..
in 1981 a boston-based gas station owner set the highest gasoline prices in the nation. during that summer he charged
Illustrate what can be said about the utilization of resources when 20 airplanes and 20 buses are produced. What is the opportunity cost of increasing the production of airplanes from 50 to 60? From 0 to 10 airplanes.
Contingency theories try to predict leadership efficiency. Common sense would tell us that not all traits or behaviors of leaders are positively related to effectiveness all of the time. Instead, whether a leader behavior is effective will depend on ..
What is the variable that balances the money demand and supply in the liquidity-preference and the classical theories?
Compare the efficiency of monopolistic and perfectly competitive markets. Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports le..
Illustrate what is the four industry concentration ratio of the hamburger organization in this town.
Elucidate the price also quantity that maximizes the company's profit.
Write a 5 page research paper that summarizes the history, a SWOT analysis, and address its future.
The student could also have earned $15,000 by getting a job instead of attending college and 10 percent interest on expenses he or she incurs at the beginning of the year. Calculate the explicit, implicit, and the total economic costs of attending..
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