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Ely's preferences for bread and soup can be represented by the utility function U(S,B) = S(1 + B). For this utility function, MUS = 1 + B and MUB = S. Soup costs $1 per pint and bread costs $2 per ounce. Ely has $10 to spend. What is the formula for Ely's MRSSB? Does it have the declining MRS property? What is Ely’s best choice? Please explain how you get your answer.
Last year, a manufacturer introduced a new product that was a huge success. So the company made the decision to invest an additional $2.8 million for a plastic injection molding machine (which could be sold for $2.0 million) and $150,000 in plastic i..
For each level of output except zero output, calculate the average variable cost, average total cost and average fixed cost.
Would having monitor supply twice as large as it usually is make trade twice as easy? Would having monetary supply half as much make trade half as easy? Explain
Explain why do you suppose that employees pay for general training and the employer pay for specific training with respect to the basic competitive model.
Illustrate what price and quantity will prevail if the monopolist is not regulated. What price-output combination would exist with efficient pricing.
What is the approximate YTM on a 12-year semiannual coupon bond with a $1,000 par value and an annual coupon rate of 6% that is selling for $950? What type of bond is this? Without doing any calculations, can you rule out a range of yields? What is t..
A firm uses 50,000 workers to produce 200,000 units of output per day. Compute the values for the following four formulas.
q1. suppose that the government imposed a 1 tax each time someone used the atm. how would this effect output and the
Explain the unemployment rate in Tappania is higher now than it has been in 50 years. Can both of these statements be true at the same time.
Every year, thousands of spring breakers flock to Mexico in search of a good time. They exchange millions of U.S. dollars for Mexican pesos. The Mexican central bank anticipates this and acts to keep its currency stable at the present exchange rate. ..
Per the text, both the government and industry have specific and valid interests in data, yet the government’s needs may well exceed those of private commercial contractors. From a contractor’s perspective, analyze the government’s data rights with r..
Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or Web applications.
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