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There are two people in the economy, George and Harriet. George's utility function is:
UG = aG(bG)2
Where aG and bG are his consumption of ale and bread.
Harriet's utility function is
UH = aHbH
Where aH and bH are her consumption of ale and bread. George and Harriet are each endowed with 4 units of ale and 4 uits of bread. Find the market-clearing price (which is a messy fraction).
q.use the following hypothetical demand schedule for movies to do exercises 1-4.quantity demanded price elasticity100
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q.assume which the abc corporation has a production and sales capacity of 1000000 per month. its fixed costs---over a
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suppose demand and supply are given byqxd 7- 12px andqxs 14px-12bull determine the equilibrium price and quantitybull
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