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Intertemporal Consumption-Savings Model
Draw the complete intertemporal consumption-savings model, and label completely and correctly. You may choose whether your consumer is a borrower or a lender, but state your choice.
Now suppose there is a increase in future disposable income. Draw the change on your graph. Clearly indicate the substitution and income eects. Determine which of the income and substitution eects is dominant. If your consumer switched type (borrower or lender), be sure to state it. Provide a one- or two-sentence explanation of how the increase in future disposable income acted the consumer's optimal consumption bundle.
Suppose we are at steady state in the Solow Model. Suddenly we have a significant technological advance. Show, using properly labeled graph(s), how this improvement in technology affects the steady state levels of income per worker, consumption per w..
In the short run, what is the profit-maximizing price of e-books relating to do-it-yourself topics? At the profit-maximizing quantity, what is the average total cost of producing e-books?
How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?
The type of manuscript for this book was typed for free by a friend. Had I hired a secretary to do the same job.
Does a real externality exist? Or is it just a peculiar externality? If a real external- ity exists, argue which of the government’s tools are best suited to address the issue: taxes/subsidies, cap-and-trade, or something else.
You are the manager of a firm that receives revenues of $60,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is..
What is the deadweight loss if buyers, instead of vendors, are required to pay the tax of $4 for each unit of the good sold.
Under which type of market structure is the firm's pricing decision the most difficult?
What is the result of an increase in the price of bread, a normal good? The demand curve shifts to the right. The demand curve shifts to the left. The quantity demanded increases. The quantity demanded decreases.
On your graph, label production and consumption of cars and sugar in Home. H. Is trade beneficial to Home and Foreign.
Unemployment according to Marx could be classified as what type of unemployment?
Consider an antique auction where bidders have independent private values. There are two bidders, each of whom perceives that valuations are uniformly distributed between $100 and $1,000. One of the bidders is Sue, who knows her own valuation is $200..
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