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Q. Mr. H. Simpson is an individual who earns $5 per hour working at the Springfield Nuclear Power Plant. Assuming he works 40 hours per week, draw his budget constraint and indifference curve. If he qualifies for $200 per week in food stamp assistance, how does this change his budget constraint? Now assume that once he earns $400 he loses all his food stamp assistance. How does this change his budget constraint? Using additional indifference curves, how likely is he to work more than 40 hours per week once he loses his food stamp assistance?
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Explain how the U.S. economy may self-correct back to the long-run equilibrium where actual GDP equals to full GDP and there is full employment.
q.assume that py increases by 15 what percentage effect on quantity demanded of product x could be expected?compute the
Illustrate what books and information sources would you recommend to read if i am working on research about decision making under risks.
Tomatoes grow well in Kansas. Why do the people of Kansas buy most of their tomatoes from Florida, Mexico, and California?
Illustrate what do you suppose would happen to the price and quantity of peanut butter as incomes fall during an economic recession.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
she estimates that she can produce and sell an extra 1,400 hamburgers per day by keeping the restaurant open for three more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should sh..
What is the profit maximizing price? a) 810 b) 750
Elucidate why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
Full employment is without a doubt the ultimate goal of every nation; however, in spite of the failures of controlled labor markets over the past thirty years there is still a lot of controversy
How do prices, output, and profits differ between monopolies and monopolistically competitive firms.
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