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Q1. Given the choice between A($1000, p = 1.0) and B($1200, p=0.90), Kathy prefers gamble A. Does this mean she is risk averse? Explain. When offered C ($1000, p=0.20) and D($1200, p=0.18), she prefers gamble D. Show that these choices are inconsistent with expected utility maximization.
Q2. Sharon buys a ticket in a small lottery. There is a probability of 0.7 that she will win nothing, of 0.2 that she will win $10, and of 0.1 that she will win $50. What is the expected value of Sharon's winnings?
If instead she travels to Florida the trip will give her 8,000 units of utility and will cost her only $200. Joan will do best going to?
llustrate what will be the equilibrium price also quantity in the market. Illustrate what is the total market profit also consumer surplus.
Monopoly is often heralded as the ultimate goal of a firm, to be the only seller in a market. however the picture might not be as rosy as it appears if you actually reach monoply status. Why is that. How monopolies in real world earn huge rates of..
Which of the subsiquent arguments is the president using to justify the trade restriction on ball bearings
Suppose the market for wheat is perfectly competitive. Fed up with low prices, a wheat grower in Texas decides he won't take his output to market and, instead, dumps all his wheat into the Red River. What happens to the market price of wheat?
What are the potential consequences of a country having a large overall debt? If you were in the position to implement a solution for the country's long-term debt, what would it be and why?
What is the change in the total amount that J & R National Bank can loan out? Explain.ii. What is the total amount that the bank can create? Explain.
the various types of vehicles that can be used by clients to reduce the various kinds if taxation.
Answers the business economics questions, Capital markets enable us to spend large sums of money that don't belong us. Would it be necessary to create an internal capital market if a firm was to be led by market-based management? Explain.
As per the rule of optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
the participation rate 60 percent, 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?
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