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Q. Calculate Max's marginal utility from windsurfing at each number of hours per day. Does Max's marginal utility from windsurfing obey the principle of diminishing marginal utility?
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility?
Which does Max enjoy more: his 6th hour of windsurfing or his 6th hour of snorkeling?
a) Banks only accept coins for deposit if they are rolled inspecified amounts. Pennies, for example, are to be in rolls of 50. A Canadian bank has checked the 200 rolls of pennies they have on hand. Only 12 of the rolls contained all Canadian pennies: the rest all had at least one American penny. Altogetherin 200 rolls, about how many American pennies are there?
b) What is the median number of American pennies in a roll?
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Sets out the aggregate demand and aggregate supply schedules in Japan. Potential GDP is 600 trillion yen. What is the short-run macroeconomic equilibrium.
Describe the difference between Economic contraction and Economic expansion
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
Make sure to make available examples of real world to strengthen your position of wherever this might be case
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Assume an endogenous growth model with labour augmenting technology.
The cause and effect on how and why there was a government shut down a month ago.
Explain how the U.S. economy may self-correct back to the long-run equilibrium where actual GDP equals to full GDP and there is full employment.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
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