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Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30. If Cole is a utility maximizer, he should
a. buy more of X and less of Y.
b. not buy anything.
c. buy X and Y in the quantities indicated.
d. buy less of X and more of Y.
e. from the information given, it is impossible to determine whether or not Cole should increase or decrease his consumption of X and Y.
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. Illustrate what evidence of excess supply or excess demand can you cite in these examples.
q.when milton friedman and anna schwartz in a book titled a monetary history of the united states 1867-1960 uncovered
each job this auto body repair shop handles is a special order job. What type of costing method would this auto body repair shop most likely use.
q1. if the economy currently has a frictional unemployment rate of 2 percent structural unemployment of 2 seasonal
Illustrate what is included in determining any of measures of money supply. If spending increase is 80% and it increases by $40 billion, Explain how does that change GDP.
Illustrate what will be the level of output and price in the long run if this industry were perfectly competitive.
q1. if the equilibrium level of aggregate expenditure is 80 billion as well as there is a reduction in consumption of 2
q1. the demand for good x is estimated to be qxd 10 000 - 4px 5py 2m ax where px is the price of x py is the price
q.at one time the country of aquilonia had no banks but had currency of 10 million. then a banking system was
Why is a point below the production possibilities curve less efficient than a point on that curve?
If Live Theaters charges one price to all patrons, what would it be. Illustrate how many customers would it serve.
They use the Internet to pay babysitters. With no cash, does the nature of money change? Should the Federal Reserve change the definition of M1?
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