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Ben allocates his lunch budget between two goods, pizza and burritos.
a. Illustrate Ben's optimal bundle on a graph with pizza on the horizontal axis.
b. Suppose now that pizza is taxed, causing the price to increase by 20 percent. Illustrate Ben's new opti- mal bundle.
c. Suppose instead that pizza is rationed at a quan- tity less than Ben's desired quantity. Illustrate Ben's new optimal bundle.
If the merged firm were able to exploit economies of scale it would affect costs, may be even marginal costs. Assume the marginal cost of the merged firm was not 40, but 30. Is the merger profitable in this case?
why are theories not cent per cent correct whether in economics chemistry or physics? why is it more so in
describe at least two 2 situations in which you have employed self-handicapping in the past. what would the costs
1. Sustainability is development that maintains the capacity to provide non-declining per capita utility for infinity (Neumayer, 2005). Based on this definition answer the following questions:a) What does "utility" mean in economics. How can utility ..
f there is an increase in labor productivity, there will be a: A. Leftward shift of the labor supply curve B. Rightward shift of the labor supply curve
Does immigration help or hurt a countrys output - what are the advantages of immigration and what are the disadvantages of immigration - what are some of the current political and economic issues regarding immigration?
Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
According to the Sleep Foundation, the average night's sleep is 6.8 hours Assume the standard deviation is .7 hours and that the probability distribution is normal.
Assume that the The World Steel industry wants to expand and that its only option is a merger. Now the industry is confronted with government regulations to oversee the merger.
The current situation without the proposed surcharge.• Present the results of your calculations in an understandable and non-mathematicalway. Without unnecessary mathematical jargon and equations
The variable cost function of a competitive firm is given by VC = Q3- 40Q2+ 1600Q Assume the firm's fixed cost is $1,500- If the market price for a unit of Q is $1,400, determine the firm's profit maximizing level of out and its profit.
the u.s. government administers two programs that affect the market for cigarettes. media campaigns and labeling
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