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Assume that some rational consumer X has satisfied the optimal purchase rule (the equi-marginal principle) and then the price of gasoline drops. If everything that X purchases is a normal (superior) good, then....
X will purchase more gasoline and also more of everything else
X will purchase less gasoline and more or less of everything else
X will purchase more gasoline and more or less of everything else
X may purchase more or less gasoline and more or less of everything else.
Identify 3 types of competition that most firms encounter other than competition from other firms in their industry in their home nation.
lisa has a linear budget constraint and typical convex indifference curves associated with food and "all other goods." suppose that lisa is given $50 worth of food stamps, which can only be used for food, Draw lisa's budget constraints, with an witho..
q.inflation and unemploymenta explain your answer why are inflation and unemployment often viewed as the key dare
The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. What is the Cournot-Nash equilibrium? You need to solve th..
Suppose that a monopolistically competitive restaurant is currently serving 240 meals per day (the output where MR = MC). At that output level, ATC per meal is $13 and consumers are willing to pay $17 per meal. What is the size of this firm’s profit ..
A retail outlet is being designed in a strip mall in Nebraska. For this outlet, the installed fiber glass insulation to protect against heat loss in the winter and heat gain in the summer will cost an estimated $90,000. What is the present equivalent..
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
A farmer determined a natural gas preserve on his property.
Compared to fixed interest rates, variable rates are riskier for the borrower but less risky for the lender. Compared to fixed interest rates, variable rates are riskier for the lender but less risky for the borrower. Variable rates are equally risky..
The real interest rate is defined as: The loanable funds theory states that ________ is(are) determined by the ________ for loans. Which of the following are assumptions of the loanable funds theory? Which of the following are assumptions of the loan..
Diana borrowed $2,000 from Pat and promised to pay him $2,165 after 1.5 years. What simple interest rate did she have in mind? How long does it take double an investment of $20,000 if the investment pays only simple interest at the rate of 3% per yea..
Search the web for ethical standards in the Human Services field, then find at least 5 Scriptures describing how we should treat others and care for them. Compare and contrast the Human Service ethics standards with biblical standards. How are they a..
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