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Qusetion: By assumption, individual preferences must be transitive. Suppose Marsha, Jan, and Cindy individually have transitive preferences over three goods: Oranges, apples, and pears. Marsha, Jan, and Cindy have decided to vote on whether to name oranges, apples, or pears the "fruit of the month." Show that it is possible that the group's majority preferences might not be transitive.
Explain. What if Brant was a minor at the time of the sale but did not decide that he wanted the coin collection back until a year after he had turned eighteen?
Why, from an economic point of view, should antitrust action not be taken against all monopolies
suppose you bought a ticket to a football game for 30 and that you place a 35 value on seeing the game. if you lose the
What was the new policy as evidenced by the Fed Funds Rate
Explain the MC=MR Rule. Describe the market structures to which this rule applies and create a chart to illustrate the data in Columns 9 and 10.
A friend of yours is in the market for a new computer. Four different machines are under consideration. The four computers are essentially the same.
A. How much of the variation in STVC is explained by the explanatory variables? How do you know that?
Choose a product and state whether it has price elasticity or price inelasticity. The beginning value for year 2008 is $43,050, year 2007 starting price was $41,450, and year 2006 beginning price was $42,700.
Suppose the hourly wage is $10 and the price of each unit of capital is $25. The price of output is constant at $50 per unit. The production function is f(E,K)=E^1/2 K^1/4. How much labor and capital should the firm employ in the long run? How..
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
What is the Central Limit Theorem? How is it Used? Why is it Important?What is the Standard Error and How Can You Reduce It?
Microeconomics Question. Please do not use any answers already used from Course Hero. In particular Railroad is already been used. Describe an example of a real-world industry or market that would be considered by economists to be a natural monopol..
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