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Consider a decisionmaker who is choosing how many apples to buy. His choice set is {0, 1, 2, 3, 4, 5, 6} (the store has only 5 apples). (a) Suppose the decisionmaker always wants as many apples as possible. Find a utility function that represents this preference. (b) Suppose the decisionmaker always wants as few apples as possible. Find a utility function that represents this preference. (c) (A bit trickier) Suppose the decisionmaker’s ideal number of applies is 3, and he is indifferent between m < 3 apples and 6 − m. Find a utility function that represents this preferences.
What happens to the equilibrium prince and quantity in each markets when the government reduces the supply ofgoods with elastic demand.
Choose three of the most effective alternative methods of government finance. Provide a rationale for your choices by explaining why they are the most effective methods, and analyze their impact on the economy.
Suppose an economy that is initially at full employment faces a substantial increase in the factor cost of production. Discuss (with the aid of aggregate output market and money market diagrams) the short-run effect on output, unemployment, general p..
Do you agree/disagree with the following statement: If the government increases the excise tax on bikes, the prices of bikes will rise? However, this will then cause the demand to decrease and as a result prices will fall back to their original level..
It was top news a week ago that Bank of Ukraine increased its rate to 30%. And the news said they did this to fight inflation. But I don't understand one thing: isn't the increased rate of "money printing" of the central bank only aggravates the prob..
Elucidate how would you express the demand for clothing also footwear. Risks involved holds the most risk to the subcontractor.
Write down on a paper analyzing dissimilar approaches that might be used by Keynesian theorists.
What must the CFO have expected about the value of the British pound in $ today to believe that investment in British CD's was more profitable than investment in US CD's last July?
Youngstown sold most of its output in the Midwest. Was this fact relevant.
Who is the winners and losers from using corn to produce ethanol (gasoline)? Identify some of the unintended consequences of using corn to produce ethanol (gasoline).
q.suppose there are two types of men and two types of women goodbad and assume further that same-sex marriage is not
Illustrate what role does each marketplace structure play in the economy.
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