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Assume the utility functions for two cities are identical and are given by U=N - 0.1*N2, where N denotes the city’s population in million. (a) What is each city’s utility maximizing population? (b) If each city had a population of 6.5 million people, how would these cities change their size? Assuming that the total population of 13 million cannot be changed, would there be a smaller and a larger city? Would there be three or more cities? Or would there be no change at all. Explain.
In recent yrs, persons also state governments have sued various tobacco companies to compensate for illness also injury allegedly cause d by cigarette smoking.
You are considering buying car insurance for the coming two years. Whether or not you buy insurance, you have the following probability distribution over the car accident damages for each year (the probability of having an accident is independent acr..
government official proposed which gasoline price controls be imposed to protect the poor from rising gasoline prices.
Illustrate what additional information is needed for you to be able to compute the price elasticity of demand for DVD players.
Elucidate and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
What is wrong with claiming that changes in the distribution of income are associated with trade instead of the technological changes that the article discusses.
When the prices reduces to $9 the restaurant sells 200 per day. Provide the absolute value of the price elasticity of demand.
With increased access to wireless technology and lighter weight, the demand for laptop computers has increased substantially. Laptops have also become easier and cheaper to produce as new technology has come online. Despite the shift of demand, pr..
Explain your answer thoroughly. Illustrate Monetary Policy Tools should the Federal Reserve use to fight inflation. Describe them thoroughly.
Elucidate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table.
If the firm needs the service of these machines for an indefinite period also no technology improvement is expected in future machines.
Know that the far increase on cable car rides was 67%. Price is $5 one way. Prices were raised to help ease a $57 million deficit.
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