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Q1. Explain what does the axiom of strict convexity of involve about preferences? Also clarify in words as well as write down the relevant preference relationships.
Q2. Suppose the entire civilian labor force is 20,000 people and the number of unemployed is 2,000 people. Calculate the unemployment rate, in percent. Show your work
Q3. If the reserve requirement before the shift was 10% and the Fed adjusted the reserve requirement to cause the shift, which of the following is a possible new value of the reserve requirement?
Explain which it would not be optimal for Firm 1 to make the investment if there were no threat of entry.
A monopolist has determined that marginal revenue is $2.00 and average cost is $1.75. It has also determined that the lowest sustainable average cost is $1.75. To maximize profit, should the firm lower its price, increase its price, or leave the pric..
When US assets are more attractive to foreign investors, what happens to demand for dollars vs demand for a foreign currency.
Compute both Burton Cummings's explicit costs every month also his implicit costs every month. Compute the opportunity cost of the resources utilized by Burton Cummings each month.
Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range.
if la jolla could obtain additional of the white wine, should they do so. if so how much should they be willing to pay for each additional gallon and how many additional gallons would they want to purchased
Does either player have a dominant strategy? Explain why or why not? Is there a dominant solution for this game? c) Identify the Nash equilibrium of this game. Explain.
Determine equilibrium in wheat market with help of graphs. If re is an increase in price of rice, illustrate what will be its impact on market equilibrium.
Illustrate what are implications for economic analysis if most people don't follow economic decision rule in many aspects of their decisions.
q.suppose that in free zone the cycle presented in the problem 6 the aggregate supply curve is short plasterboard cafos
Explain effect of an open market purchase on interest rates. Make sure you discuss liquidity effect, real income effect, price level effect and inflationary expectations effect.
What is the most you would be willing to pay for one of these licenses, if you know that you get to choose your level of output before the other licensee does, also knowing that your choice is observable by the other licensee?
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