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1.What distinquishes cardinalist from ordinalist.
2.How does each group in '1' approach consumer demand theory.
3.Which of these two approaches are preferable(explain them).
4.State the crdinalist and ordinalist conditions for consumer equilibrium.
A monopolist supplies to a market with (inverse) demand given by D(Q) = 100 ? Q. The monopolist has constant marginal cost c = 2. Compute the monopolists profit-maximizing supply choice and the corresponding mark-up over marginal cost.
Analyze the risks involved in the foreign-exchange market and create a list of best practices that almost any organization conducting international business would find valuable.
Determine the effect of an raise in the quantity of money and find the difference between real variables and nominal variables? Are these variables affected through the quantity of money?
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Assuming that are regarded as the same thing irrespective of whether they occur on Saturday or Sunday, set out the maximization problem and derive the rst order conditions for an optimal solution.
Explain the law of diminishing returns in your own words. This idea can be applied to other concepts in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
How does your selected religious group differ from other religious groups (such as in their beliefs, worship practices, or values)? What has been the experience of your selected religious group with others that do not share its beliefs or pr..
Graph the supply and demand schedule for pizza using $5 through $15 as the value of p. In equilibrium, how many pizzas would be sold at what price?
the buyer values and seller costs for another experiment in which students are buying and selling used textbooks. In this experiment, the seller pays the tax. Suppose that traders who are indifferent between trading and not trading go ahead and trade..
If he deposits %5000 each year, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22? Assume the account earns interest at 8% a year.
How a competitive market arrives at equilibrium and why the price of tomatoes has risen - Discuss the factors that affect the price elasticity of demand as they apply to tomatoes and make a suggestion based on your appraisal as to the likely price..
Draw the world relative supply curve RS for good X. Label all the axes (relative price of good X on the vertical axis and world output of x relative to y on the horizontal axis) and the relevant points.
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