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Mathematical economics: Problem of A firm production function 3x1/3 y1/3, where x is amount of input 1 and y input 2. Price of output is 1 and price of input are wx and wy. Constrained is to use 1000 units of input 1. A) Explain how much of input 2 does it use? B) What is the most that it is willing to bribe an inspector to allow it to use another unit of input 1?
Can we say confidently whether good X is a normal good or an inferior good.
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What happens to each of these values if the central bank changes the reserve requirement ratio to 3%.
Congresswoman Gaga represents a state in which several firms fabricate furniture. She needs to impose tariffs on all imported furniture.
Due to the global economic slowdown, we were benefiting from relatively low oil prices.
Is it reasonable from an economist's viewpoint to minimize the role of the government in accordance with Nozick's moral argument.
Elucidate how an increased federal budget deficit resulting from a recession can actually help stabilize an economy.
Assume you are part of a research team evaluating a proposal to clean up a hazardous waste site.
Illustrate what implicit assumptions is the publisher also the analyst making about price elasticity.
Using the slope of the health expenditure function, predict the change in per capita health care expenditures that would result.
Illustrate what is the mechanism by which an aggregate demand recession is transmitted from one country to another.
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