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In an Edgeworth box economy with goods x, y, and total endowment of each good of 20, draw out in each case the Pareto set for the following various utility functions of each person:
a. U1(x,y) = min(x,y); U2(x,y) = min(x,y)
b. U1(x,y) = min(x,y) ; U2(x,y) = min(x,2y)
Suppose a textbook publisher historically sells an econ book alone but then markets the new edition of the boo only as a bundle with an online hw supplement. Answer 2 parts: define bundling. discuss what consumer and market characteristics are needed..
In a small, rural community, the aggregate labor supply curve is given by L^s = -40 + 10w and aggregate labor demand by L^D = 160-10w, were w is the hourly wage rate. After a national story about the quality of life in the small town, migration shift..
The firm increases its entire size until it makes 30,000 units a week. What would total cost be if the firm faces constant returns to scale?
Suppose 40 percent of a population all receive an equal share of p percent of the nation’s income, where 50 ≤ p ≤ 100. The remaining 60 percent of population also shares the rest of the income equally. For any such p, what is the Gini coefficient for..
A manufacturer of computer chips has a computer hardware company as its largest customer. The computer hardware company requires all of its chips to meet specifications of 1.2 cm. What are the elements that the production manager should consider in d..
Provide a succinct statement regarding the value of the article. III. What new ideas or amplification of existing ideas emerged as a result of reading the article?
Porter’s five forces of competition are as follows. Give an example of an industry where profitability is low (besides the airline industry). Apply the 5 forces to your chosen industry and demonstrate how those forces can lower profitability.
Quantity effect of a specific tax. A regulator plans to impose a specific tax on a previously unregulated monopolist. Before imposing the tax, they want to know what the change in quantity produced will be from such a tax. The proposed specific tax i..
Suppose the world price of lumber is above the Canadian price of lumber. What would be the impacts of free trade in lumber between Canada and the rest of the world? Use a diagram to show the impact on: Canadian price; Canadian consumption; Canadian p..
how do i find a book on grantham library page with the isbn number my teacher gives me?
Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate during these two years was
Why are cartels difficult to maintain? What is needed for predatory pricing to succeed in increasing long run profits? Consider the following game in which two players simultaneously decide whether to adopt technology A or adopt technology B. If the ..
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