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Charlie has utility function U(x,y)=24x^1/2+y. If he maximizes her utility, what is the amount of good y that he consumes, when price of x is 4, price of y is 1, and income is 50 (in this case utility maximization is characterized by the tangency rule)?
Consider two rms facing the demand curve P = 50- 5Q where Q = Q1 +Q2 . The rms cost functions are C1 (Q1 ) = 20 + 10Q1 and C2 (Q2 ) = 10 + 12Q2. If they collude, how much will each firm produce? What would be each firm's prot?
The makers of Tylenol pain reliever do a lot of advertising and have loyal customers. In contrast, the makers of generic acetaminophen do no advertising, and their customers shop only for the lowest price. Assume that the marginal costs of Tylenol
If the price of food falls by 10 percent and the quantity sold increases by 5 percent, then the price elasticity of demand in that range equals
Discuss an event in your home city or state that brings new economic activity. It might be a major construction project, or major sporting event that occurs infrequently and brings a large number of people to your local area. Describe who benefits fr..
Analyze the different stakeholders (i.e., government, three (3) affected parties) that are involved in the externality, and identify what their roles are with regard to the externality.
Should the United States pass a minimum wage that assures all workers earn a wage above the level of poverty.
Can you share the economic development strategies also quote some examples of Elucidate how Singapore also US use them.
Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. what are the real wage, employment, and output?
Four percent of the customers of a mortgage company default on their payment. a sample of five customers is selected. what is the probability that exactly two customers in the sample will default on their payments?
Compare the primary available economic resources that health insurance payers may use to monitor, assess, and regulate health care providers' behavior.
Everything else held constant, when the nominal exchange rate in units of foreign currency per unit of domestic currency decreases, the ________ domestic assets ________.
Explain how should the United States Supreme Court interpret the United States Constitution.
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