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Jason likes to buy guitars and trumpets. His marginal utility of guitars is given by MUG = (7T0.3)/(10G0.3) and his marginal utility for trumpets is given by MUT = (3G0.7)/(10T0.7), where G is the number of guitars Jason buys and T is the number of trumpets Jason buys. Guitars cost $100 each, trumpets cost $150 each, and Jason has income of $2,000. What combination of guitars and trumpets would maximize Jason's utility?
1) 8 guitars and 8 trumpets 2) 11 guitars and 6 trumpets 3) 17 guitars and 2 trumpets 4) 14 guitars and 4 trumpets 5) none of the above
We would expect the coefficient of cross elasticity of demand for DVD players also DVDs to be positive.
If you advertise and your rival does not, you will make $ 10 million and your rival will make $ 3 million. If your rival advertises and you do not, you will make $1 million and your rival will make $ 3 million.
Graph the Bens consumption function also find their households marginal propensity to consume.
Suppose you want to infer expected future exchange rates in a less-developed country that has free-market-determined interest rates but does not have a forward exchange market. Is there any or way of inferring expected future exchange rates. Unde..
Alchemy allows the other firms to sell as much as they wish at the established price and supplies the remainder of the demand itself.
Illustrate what is james price of producing potatoes what is james opportunity cost of producing chickens which person has an absolute advantage in which activities which person has a comparative.
Illustrate what level of control variable are net benefits maximized. Illustrate what is relation between marginal benefit and marginal cost at this level of control variable.
The newly established Bureau of Time Travel has been given authority to regulate time travel. If the bureau sets a price that allows Time Riders to earn a normal profit (that is, a fair return), illustrate what price will time travelers pay per tr..
q1. what are the main reasons for people to make non-rational choices? is there any specific science that study
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
q1. the banking market in athens ohio currently has four banks with market shares of 60 percent 20 percent 15 percent
Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year.
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