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Suppose that Marie’s marginal utility from consuming one more unit of bubble gum is 10 utils while her total utility from consuming one more unit of cake increases from 130 utils to 142 utils. Given this information and holding everything else constant, if the price of bubble gum is $1 per unit and the price of cake is $2 per util, then Marie should
a. Consume more bubble gum.
b. Consume less bubble gum.
The owner of a fast-food restaurant estimates that she can produce and sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day.
Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe some of the ways to correct the negative externalities and the pros and cons of each method.
Consider the following Ricardian model.
One of United's biggest customer has placed a very large, heavy order. Its warehouse is in a location served by all transport modes, and the customer has directed United to ship the order by the mode with the lowest transport costs. In this situat..
Explain why a government might want to regulate a monopolist and How can governments negate the adverse side-effects of gold-plating and cost padding?
suppose that society decided to reduce consumption and increase investment. How would this change affect economic growth What groups in society would benefit from this change what groups might be hurt
Demand and supply functions of tomato are listed below, The maximum value of tomatoes that manufacturer will offer for sale if the price of tomatoes is $ 0.30
Many states provide firms with an "investment tax credit" that effectively reduces the price of capital. In theory, these credits are designed to stimulate new investment and thus create jobs
What amount must be deposited into a savings account that pays 8% interest if the inflation rate is 10% and you want to set aside enough money to purchase a red tape cutting machine ten years after the deposit? The current cost of a red tape cutting ..
At a 10 percent rate of interest, how much interest will the government pay each year? d) If this same budget deficit occurs for a second year, what would the national debt become? And at a 10 percent rate of interest, now how much interest would ..
What do you see as the basic values that underlie this approach to solving the access to care problem? Do these values align with specific political perspectives?
Which of the following best describes what happens when consumer income increases? Which of the following best describes what happens when the price of oranges increases?If the government gives each consumer a tax reduction equal to $600 (i.e. increa..
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