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Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.b) Now suppose that the carnival institutes an admission fee of $2 per hour and the circus institutes an admission fee of $4 per hour. You still have only 6 hours to kill, and you also have only $20 to spend (in other words $20 is your income) . Draw your NEW budget
How much profit does each firm make? Suppose Firm 2 produced 10 units of output. How much output should Firm 1 produce in order to maximize profit?
iv. Find the utility maximizing combination of income and leisure. How many hours will this person work? Imagine the wage rate increases to $8 per hour. Will this person work more hours?
The graph also shows the marginal revenue curve faced by this firm. Hypothetical cost and revenue curves for a computer producer. Explain how many computers will the monopolist sell to maximize profits.
what is the growth rate of constant- dollar real gdp using year 1 as the base year? What is the growth rate of constant- dollar ral GDP using year 2 as the base year?
Idea that a country can simultaneously pursue only two of the three following policies: free international-capital flows, monetary policy for domestic stabilization, and a fixed exchange rate.
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed?
Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets?
q.youre the manager of global opportunities for a u.s. manufacturer who is considering in europe expanding sales. as
Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.
If the real wage can adjust to equilibrate labor supply and labor demmand, what is the real wage. In this equilibrium, illustrate what are employment, output, and the total amount earned by workers.
Explain how you think these trends have affected our overall economic well-being (think unemployment, wage rates, etc.) in recent years.
How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.
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