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An economy has a total amount of 100 units of a good to allocate between two persons-Amanda and Britney. Amanda's utility level is given by UA = QA, where QA is the number of units she consumes of the good. On the other hand Britney's utility level is given by the function UB = 10V QB where QB is the number of units of the good she consumes.a) If all of the society's resources are used to make Britney happy, what are the utility levels for Amanda and Britney? If, instead, all the units are used to make Amanda, what are the utility levels for each one of them?b) Derive the equation for the utilities possibility curve for this two man economy. That is, derive an equation that expresses Britney's utility as a function (measured on the vertical axis) of Amanda's utility measured on the horizontal axis. Including end points plot several points on the graph. c) Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each. Should they believe this promise? Why?d) Suppose resources in the economy are distributed so that Amanda has a utility level of 64 units and Britney has utility level of 50 units. Is this distribution of utility (Pareto Optimal) efficient? If not, why?
We operate 300 days per year and have found that an order must be placed with our supplier 6 working days before we can expect to receive that order.
Remaining group did not have jobs, except all said they would like one. 5 of this group had not looked actively for work for 3 months.
Determined by the ability to find, attract, keep, develop, and tap into the most talented workforce that can be assembled.
Price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm will ceteris paribus.
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
Assuming that land and labour are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners in Texas.
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
Can you find a Nash equilibrium in pure strategies that is not efficient. Find the sub game perfect equilibrium as a function.
Susie's boss offers her $100 to come to work instead. In considering what to do, which of the above would be considered a sunk cost.
Demand curve is d1, what will be the change in her revenue. If her demand curve is d2 what will be the change in her revenue.
Explain how each of the following variables will be affected by proposed steps that you have identified in the first part of the discussion: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your respo..
How would I find out by how much the price of water needs to be raised to reduce demand by 40% if the price of elasticity is 2.0.
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