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Suppose x1=m/(3p1).
(a) What is the numerical value of when the price of good 1 is $3?
(b) What is the numerical value of when the price of good 2 is $3?
If you deposit $1000 now, $3000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at a rate of 12% per year compounded quarterly, how much money will you have in your account 10 years from now?
Suppose that Joe enjoys and repeatedly does stupid things like getting heavily into debt and insulting police officers. Do these actions constitute systematic errors? If he gets what he wants each time, are his stupid actions even considered to be er..
Illustrate what is the quantity of burgers demanded in equilibrium.
Illustrate what problem is posed by any comparison over time of market values of various total outputs. How is this problem resolved.
Liberty Airways is considering an investment of $800,000 in ticket purchasing kiosks at selected airports. The kiosks have an expedited life of four years. Extra ticket sales are expected to be $60,000 per year at a discount price of $40 per ticket. ..
First suppose that there is no tax in the country Randland. A resident, Dagny, has an hourly wage of $50. Now, suppose that a new leader takes over Randland and he implements the following income tax (with respect to daily income for consistency): H..
If the Federal Reserve changes the reserve ratio in the economy from 10% to 5%, explain the effect this will have on the broader economy (e.g. GDP) in the short run and the mechanism for it happening. Use both the Quantity Theory of Money and the M..
Do a discussion on the model of perfect competition also adopting strategies to gain marketplace power in competitive industries.
How does organizational culture affect innovation? Are there any guidelines we can develop and implement in organizations that will enhance our innovation capabilities? Include examples.
Explain the importance of agriculture to Brazil’s current success. What role will agriculture play in Brazil’s future? What are the implications of this for other countries? How might countries like the United States react if Brazil is successful in ..
There has been a great deal of controversy over the Affordable Care Act, also known as ObamaCare. In your textbook, there are three methods described that most Americans use to evaluate political developments such as ObamaCare. Using those three meth..
If the demand for a good is elastic with respect to its price, then a: change in price will cause revenues (or consumer expenditures) to change in the same direction. change in price will cause revenues (or consumer expenditures) to change in the opp..
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