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Q. Assume a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Assume PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph must accurately draw budget restrictions for each income level and specifically label the bundles that the consumer chooses for each income level. Also, for each bundle that the consumer chooses, draw the indifference curve that goes through that bundle. Label your graph accurately as well as carefully.
Elucidate Adam Smith in The Wealth of Nations asserted that the pursuit of self-interest by competitive firms promoted the interests of society.
q. suppose there are two consumers a and b. the utility functions of each consumer are given byuaxy xyubx y 2x ythe
What will be the government deficit. If the government finances the deficit by issuing bonds, what amout of bonds will it issue?
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
which planet has the comparative advantage in coffee? in fried chicken?
the government imposes a limit on what producers may charge. cite at least two other ways the consumers may be "paying" for these goods
To what extent to do you agree/disagree with the actions of the central banks during this time?
When the price of wheat rises, the quantity of when demanded falls, and when price of wheat falls, the quantity of wheat demanded rises. Therefore, the demand for wheat is not a horizontal line.”
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes.
Application Coal mining believes that it can increase labour productivity and, therefore, net revenue by reducing air pollution in its mines. Explain how much pollution reduction should Appalachian Coal Mining Undertake.
q1. when betsy goes to make her list for tomorrow she is upset that she didnt get everything done. in a well-written
Imagine you are a manager for the good or service used above. From the results of the regression equation, suggest strategies to either maintain demand.
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