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A needy family of a mother and three children currently receives cash benefits that average $12 per day. The mother of this family is allowed to earn an average of $4 per day before her benefits begin to decline. After that, for each dollar earned, cash benefits decline by 67 cents. Plot the recipient's money income-leisure tradeoff (budget) line under these circumstances. Assume that she can find work at $4 per hour. How many hours will she have to work per day before her benefits are eliminated? Assuming that her indifference curves for work and leisure are convex, show her equilibrium allocation of time between work and leisure per day. Show that it is possible to have more than one most preferred outcome. Create a graph on a spreadsheet program (such as MS Excel), copy and paste it into a MS Word document
QUESTION 2. Explain how the achieved trust level of a companys communication using blogs and social media compared with similar communication efforts conducted using mass media and personal contact?
A lawyer who drives a beat-up car and wears frumpy dresses may have a hard time getting customers. Potential clients may conclude from his appearance that he is poor, and if he is poor, he probably is not very good.
an airline ticket costs the same from casper wyoming to denver colorado and from denver to orlando florida. does this
What is the highest profit or lowest loss availability to this firm? c. Should this firm operate or shut down in the short run? Why? d. What is the relationship between marginal revenue and marginal cost as the firm increases output?
If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions Are stocks of produ..
A monopolist supplies to a market with (inverse) demand given by D(Q) = 100 ? Q. The monopolist has constant marginal cost c = 2. Compute the monopolists profit-maximizing supply choice and the corresponding mark-up over marginal cost.
marginal revenue exceeds marginal cost, marginal cost exceeds marginal revenue, total cost exceeds total revenue.
What factors determine the elasticity of resource demand? What effect will each of the following have on the elasticity or location of the demand for resource C, which is being used to produce product X? Where there is any uncertainty as to the outco..
Write down a five paragraph introduction detailing the purposes and activities of the organization. Consider whether there're any groups opposed to them and why.
matter transmitter and trading city consider a region with two standardized products bread and shirts that
What is cost of AFC per paper, what is MC per paper and what is minimum amount must charge to break even on costs?
Calculated the point price elasticity of demand for Papa burgers and calculate the optimal price for Papa burgers if marginal cost is $1 per unit.
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