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For both of the following utility functions, draw the indifference curves for the indicated utility levels, including at least three consumption bundles on each. Be precise. (And don’t expect the indifference curves to necessarily look like those in class.)
a. i) u(x,y) = xy ( MUx=y, MUy=x ) for 16 utils and 25 utils ii) u(x,y) = 6x+2y ( MUx=6, MUy=2 ) for 30 utils and 60 utils
Suppose Ann and Bob each have $90 with which to buy xanthum (x) and yarrow (y). Their preferences are represented, respectively, by the utility functions (i) and (ii) in problem 5.a. Assuming the price of x is $12 and the price of y is $2, draw their common budget set. Next, determine each agent’s demands for x and y.
assume an economy lasts for 2 periods. in period 1 only 1 agent is born this agent lives for 2 periods. in period 2 two
Select one country and list 5 elements of its cultural environment. For each cultural element, explain the impact on international business. Limit your answers to a couple of sentences for each element of culture.
Elucidate how these tendencies lead to religion becoming evil, how does Kimball respond to them and how the Greek Orthodox tradition transcends them.
Assuming that price of labor (L) and capital (K) are 12 and 3, respectively. One manufacturing company is facing production function given as Q=LK. derive your total cost function. Based on your total cost function, derive the average total cost.
Perpetuity A pays $ 100 at the end of each year. Perpetuity B pays $ 32 at the end of each quarter. The present value of Perpetuity A is $ 1428.57. Calculate the present value of Perpetuity B using the same effective annual rate of interest.
rom the Blades' Use of Long-Term Financing case study, formulate an overall corporate financial strategy to support the long-term financing of Blades, Inc.
What are the key features of the consumption function? What causes consumption to rise or fall? Does the level of consumption deserve concern today?
Define the terms decision management and decision control. Under what situations might it be optimal to make one individual responsible for both decision management and decision control?
Illustrate what will be level of employment under monopsonistic conditions.
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t-shirts is about
Should the Federal Reserve System control the nation's money supply? Defend your position using economic principles.
When the farmer makes this discovery, what happens to the opportunity cost of wheat, measured in bushels of corn?
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