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What is the key assumption needed to show how one can construct a numerical utility function out of just a preference ordering? Don't just draw a picture; explain what the assumption means and apply it to show how to construct that numerical utility function.
What business will you go into, and what will comprise your fixed and variable costs? How could your business take advantage of economies of scale?
Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.
Explain why inflation is a main concern for an economy, and examine how well inflation in Australia has been managed by the monetary authority.
Using ideas of consumer and producer surplus analyse this claim. Is there a case for price controls on housing?
Suppose you are an Executive Chef at a private hotel on the beach in Florida, with sixty rooms; a banquet facility serving up to 175; a coffee bar in lounge, which also provide complimentary cold breakfast;
How much cloth and food will the economy produce after this increase in its capital supply? F. Describe how the allocation of machine-hours and work-hours between the cloth and food sectors changes. Do those changes confirm with the changes descri..
Find out the optimal price and quantity with standard pricing. Which is the per-customer profit for the gym? What is the consumer surplus?
Sketch the indifference curves and show where the "corners" are. If the prices or x and y are P_x = 5 and P_y = 1, respectively
Why do you suppose that the market clearing interest rates on bank savings and time deposits have been rising relative to the market clearing interest rates on bank loans?
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
The marginal revenue is $3.00. What is the short-run and long-run condition for the monopolist and what output changes would you recommend?
Higher interest rates have an impact on the value of the dollar. What is the effect and how does this relate to foreign trade?
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