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How does a consumer's optimal choice of goods change if all prices and the consumer's income double? (Hint: focus on the budget constraint. You don't have to, but you can use an example to support your answer).
Output is produced according to a production process given by: Q = 4LK, where L is the quantity of labor input and K is the quantity of capital input. If the price of K is $10 and the price of L is $5, then what is the cost-minimizing combination of K and L capable of producing 32 units of output?
you have been part of the orthopedic center for 5 years. in that time you have seen the center grow and the need for
1 long-term economic growth is a term used to describe thea more rapid growth in population than of real outputb
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls.
1. Inclusive property rights provide an investor: 2. Lawyer Ayres and economist Levitt considered the net benefits of installing a LoJack from the society's standpoint positive, because the annual installation and service charges on this equipment..
A firm’s costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6.
If the current inflation rate is 3.3%, potential gdp is $16.9 trillion, and actual GDP is $15.7 trillion, what is the appropriate federal funds rate according to the Taylor Rule?
a gasoline station very near a professional football stadium parks cars on its lot to make money on game days. last
Suppose each of the towns A, B, C, D, E, F, and G has a weekly market day, but different towns have a different market day. Example, if A has market day on Tuesday, then deciding to go to market at A and deciding to go to market on Tuesday are the sa..
Discuss how the level of output per person in the long run would likely be affected by each of the following changes: The right to exclude saving from income when paying in- come taxes.
Use the following informations to comput the inflation rate between the 4th quarter 2010 and 4th quarter 2011.
3. A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good is S = 20 + 10P , D = 400 - 5P.
Assume good rainfall has resulted in a bumper harvest of wheat. Using demand and supply analysis and graphs, explain how this will impact on the equilibrium price and quantity of:
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