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U(X,Y)=X.6Y .4 , MUX=.6X -.4Y .4 MUY=.4X .6Y -.6 PX=3 PY=4 I=60 (a) Calculate the MRSX,Y. (b) Write the budget constraint. (c) What is the consumption bundle to maximize the utility level? What is the maximum utility level?
Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".
Write in depth on the possibility of interest rate hike over the coming year. What do you believe are the reasons for this occurrence? Comment on the solvency of social security?
Suppose an increase in the minimum wage has raised your franchise’s labor costs. How do you respond to the higher labor costs? How will the higher labor costs affect your short-run cost curve, long-run average product curve, and average cost curve?
When tolls on the Dulles Airport Greenway were reduced from $1.75 to $1.00, traffic increased from 10,000 to 26,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles A..
How much is this account worth after 28 years? Submit your answer to the nearest dollar. What is the effective interest rate of an investment if the nominal annual interest rate is 7.77%.
Using information given: What is average cost of first do these of a new drug. What about marginal cost of subsequent doses? Is this consistent with behaviour of costs for an information product.
A sample survey to estimate the fast-food market in a large city was kept small enough to allow repeated follow-up. The high response rate meant that the sample was essentially random. Calculate a 95% confidence interval for the mean of the whole pop..
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
What type of UAE companies would like to see higher tariffs and what type would like to seelower or no tariffs? And why is this the case?
The long-run and short-run aggregate supply curves reflect fundamental differences between long-run and short-run macroeconomic analysis.
Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Assume the economy is initially in a long-te..
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
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