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Suppose the daily benefit you get from spending another hour studying microeconomics is described by B(t) = 12t - tr^2. a) What amount of studying time per day maximizes your benefits? b) Derive the marginal benefits, MB(t) c) Suppose that an alternative use of your time is to play video games that yields a constant benefit of 4 per hour, no matter how many hours you spend playing. How much time should you spend studying microeconomics?
Estimate cost elasticity of demand for education at this university. Is cost elasticity of demand for university tuition elastic or inelastic according to answer in part (i) Why.
Explain should decision management as well as decision control be separated.
If this economy were an open economy with a flexible exchange rate, would the usual crowding out forces be supplemented or offset by forces from the international sector
Use a budget constraint and indifference curve to show and elucidate how your consumption changes.
"The Assistant Secretary for Time Travel recommends that the bureau choose the socially optimal price, the price necessary for efficient allocation of resources. Which price is required for efficient allocation of resources.
Explain how do you think that these individuals would rank the utility of these same expenses for themselves. What reasons may account for the similarities and differences in the ranking of such expenditures by your neighbor, your friend, and your..
Explain how can multiplier have a -ve effect. What is the relationship among the multiplier as well as the marginal propensities.
A firm's marginal revenue is $133 and its marginal cost is #90 illustrate what amount of profit does the firm fail to pick up by refusing to incease output by one unit.
Illustrate what does a contraction Gap imply about the actual rate of unemployment relative to the natural rate
Compute the resulting dead weight loss (DWL) inefficiency from the monopolistic optimal outcome.
What happens to the demand for Sara's sweatshirts in long run. In long run, what happens to Sara's economic profit.
Michelle spends all her money on food and clothing. When the price of clothing decreases, she buys more clothing. Does the substitution effect cause her to buy more or less clothing.
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