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Suppose that Omar’s marginal utility for cups of coffee is constant at 5.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 11 for the first doughnut he eats, 10 for the second he eats, 9 for the third he eats, and so on (that is, declining by 1 until per additional doughnut). In addition, suppose that coffee costs $1 per cup, doughnuts cost $1 each, and Omar has a budget that he can spend only on doughnuts, coffee, or both. How big would that budget have to be before he would spend a dollar buying a first cup of coffee?
Suppose the demand curve for UK basketball tickets is perfectly elastic but the supply curve for UK basketball tickets is not perfectly elastic or perfectly inelastic. If the equilibrium price of UK basketball tickets is initially $2, a downsizing of..
A major defense supplier expects to generate additional revenue from its recently won government contract. The company expects the revenue will be $110 million in the first year and the revenue increasing by $2.5 million each year for the next 4 year..
Maximizing profit for an economist is:
Client agencies are the agencies that exist principally to serve the needs of certain interest groups or clients. The first group to be created was:
Formulate a model for the problem
An individual who is not an existing client approaches you in early November stating that the income tax return for the financial year has not been prepared or lodged.
Why we might want to assess the strength of evidence against the null hypothesis.Give an example of when it would benefit to describe the strength of evidence.
Emergency/Crise Management, how this problem would be solve in terms of who has the problem and how they are affected, why this is a problem, what you can do to solve this problem using information technology and when this might be accomplished
What economic example could be used to demonstrate incentives that were used to "nudge" buyers/sellers
Suppose the government is imposing a debt-financed tax cut. Based on the traditional view, what will happen to: Based on the view of Ricardian equivalence, what will happen to:
Define and discuss the importance of the time value of money concepts including compounding (future value), discounting (present value), and annuities. Why do organization leaders need to understand these concepts?
Show the profit-maximizing price and quantity. Show the producer and consumer surplus. Show the deadweight loss from monopoly. What is the implied competitive equilibrium? Is the firm operating at a profit or a loss (how do we know)? If it’s operatin..
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