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Give the definitions for marginal rate of substitution (MRS), and the price ratio. Then explain them in your own words, referring to the notions of the psychic tradeoff and the market tradeoff. What is similar about the concepts of the MRS and the price ratio? What is different ?
a firm in an oligopolistic industry has identified two sets of demand curve. if the firm is the only one that changes
What is the nominal exchange rate in 2013? What is the expected nominal exchange rate for next year? Which currency will appreciate? What is the real exchange rate in 2013? What is the economic meaning of the real exchange rate?
What is the difference between ordinal utility and cardinal utility? Explain why the assumption of cardinal utility is not needed in order to rank consumer choices.
Northern Granite Corporation, a corporation in New England, installs granite counter tops in houses. When it 1st entered the business, price per foot for installing a granite counter top was $180 per square foot,
select one of the companies below and conduct some basic research.british petroleum bp facebook hyundai dunkin donuts
according to bankers and management experts business plans are an essential component of success when starting a
it is estimated that while world coffee prices hover around 50cent per pound production costs are around 80cent per
suppose the chairman and chief executive officer of general motors has decided to a raise the companys auto prices by
The queue length and waiting time for clients including and excluding the service time and the probability that there will be more than 2 customers waiting
You have been hired by the government to reduce carbon emissions. As well, you need to "sell" the plan to the public. Choose whatever policy you think best matches the goals of the political party you work for. Write a short newspaper advertisemen..
1. suppose there exist two identical forest plots except one will be harvested and left while the second will be
The second firm finds that although demand is not perfectly elastic, it is now relatively more elastic. what will happen to the second firms marginal revenue curve and to its profit-maximizing price. competes with a second firm which had been a mon..
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