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The answer to marginal utility
1. simple dispensing machines offer opportunites for consumers to take numerous copies for the price of 1 copy. why do consumers usually take only one copy?
2. the price of a seasonal pass to six flags great adventure is not much more than a weekly pass. why is this a reasonable pricing policy?
3. Tim eats only burgers and tacos. in equilibrium, his marginal utility of burgers is 20 and his marginal utility of tacos is 10. The price of burgers is $4. what is the price of a taco?
Leisure-Time boats is a manufacturer of mid-to-high end boats with 12 sales territories throughout the U.S. Sales are generated by salespeople in each territory who develop relationships with boating distributors and related retailers.
An University President wants to reduce expenditures on fringe benefits
Determine the profit-maximizing quantity for a monopolist. You can ask the firm's to draw the firm's revenue and cost curves
What is the firm's cost function when the cost of pollution certificates is included? What is the firm's marginal cost function when the cost of pollution certificates is included? Derive the firm's supply function.
Elucidate marginal utility explains a lot about human behaviour.
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
Because net exports are counter-cyclical, analyze how the following change during an economic expansion: Consider the case in the context of a flexible exchange rate and a fixed exchange rate.
Agree or disagree and describe: In monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over long run.
Define the Economics terms, national accounting identity, Hodrick Prescott filter and what it does, Cobb Douglas production function
Compute the implied arc income elasticity of demand. Holding all else equal, would a further increase in price result in higher or lower total revenue.
As with this data how could you make the cost benefit test to tell if at a given percentage level abatement is effiecient.
Elucidate the policy which change, you would recommend also how this change would be financed.
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