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Microsoft Word - Problem Set 2 Questions
1.Sam is interested in buying two types of goods, x and y. He can either use all his income to buy 3 units of x and 9 units of y, or 9 units of x and 3 units of y. If he spends all his income on x, how many units can he buy?
2.Sketch one indifference curve that has the following form: U(x, y) = 3min (x,y) + y.
3. True, false, or uncertain; explain your answer. If you know the slope of the budget constraint for two goods, you know the prices of the two goods.
Please explain and answer
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
The Great Southern Paper Company has the following marginal cost schedule for produc- ing pulp: ?Quantity 1 2 3 4 5
Considering a two-player, sequential game where each player can choose to play right or left. Player 1 moves first, and player 2 observes 1’s actual move and decides to move up or down. If both of them moves left, then payoffs for player 1 is $-5 and..
in the 1970s congress imposed an excess profits tax on these companies. it did not do so this time? what does this
Two similar farms could have the same return to management but different net farm income due to:
engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single
An increase in the home country's individual income taxes
Devise a hypothetical business situation in which buying a lookback call option on a commodity may be a sound strategy for you. How about a down-and-out call option?
What is its product or means of revenue and who are its customers? Is it location based and physical, or does it have a mostly virtual presence?
the demand and supply functions for the world truffle market are given byqd 48 000 - 40pqs -3000 10pwhere p is the
An office supply store sells a team of printer paper at a fix price of $4.50. Which of the following is a term used by economist to diatribe the money received from the sale of an additional team of paper?
Cher's marginal rate of substitution of necklaces (N) for earrings (E) is 5 (MRSEN = 5). Cher should own 5 times as many necklaces as pairs of earrings. The slope of the indifference curve is 5 and thus upward sloping.
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