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Latanya likes to talk on the telephone. We can represent her preferences with the utility function U(B, J) = 18B + 20J, where B and J are minutes of conversation per month with Bill and Jackie, respectively. If Latanya plans to use the phone for one hour to talk with only one person, with whom would she rather speak? Why? Draw the indifference curves showing Latanya’s preferences at utility levels 180, 360, and 540.[PUT “B”on Y-axis]
What sort of operational safeguards would you advise a company to adopt in order to better manage the risks of China’s legal environment?
Determine the application of behavioral economics in explaining individual choices and the effectiveness of public policy. In “Should Policies Nudge People to Make Certain Choices? After reading and evaluating both sides of the discussion, which side..
Which statement most accurately captures the state of money today?
Illustrate what might cause the world interest rate to rise.
Suppose the government issues debt to finance its fiscal deficits. The interest rate in the government debt is r=5% and suppose that output in the US shrinks at rate n = -1%. Then:
Elucidate how should Microsoft market long distance telephone services in the new wireless telecommunications devices which also include Internet portals.
Discuss the importance of a well-developed compensation plan in attracting as well as retaining good employees as well as how to keep those plans from "working too well."
Certain environmental laws prohibit EPA from considering the costs of meeting various standards when the levels of the standards are set. Is this a good example of “putting first things first” or simply an unjustifiable waste of resources? Why?
How can we measure the opportunity cost of producing a good? Using a bowed outward production possibilities curve between ice cream and hammers, identify graphically the opportunity cost of obtaining an additional hammer. Does economic growth elimina..
Explain how many seats should be protected for full-fare passengers.
Determine the capitalized cost of $1,000,000 at time 0, $125,000 in years 1 through 10, and $200,000 per year from year 11 on. Use an interest rate of 10% per year. Show the standard notation, interest factor formula and solution
Per capita income in County A is $45,000. Per capita income in County B is $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B. What is the arc income elasticity of demand for visit?
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