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1.What are perfect subtitutes? Give some real world examples. What dotheir indifference curves look like? Can you give a utility function for perfectsubstitutes? 2.What are perfect complements? Give some real world examples. What dotheir indifference curves look like? Can you give a utility function for perfectcomplements?
Normal 0 false false false EN-US X-NONE X-NONE Explain the multiplier intu..
Given the following production capabilities for cheese and bread, which nation will export cheese to the other? What might be a mutually beneficial exchange rate for cheese and bread?
why have soft drink firms chosen to use aluminum cans over glass bottles to fill its contents? how does the recycling
The pork industry is dominated by large corporate farms that pollute the underground water table with waste material from the slaughter of pigs. The farms ignore this pollution. Use a supply and demand analysis to illustrate the impact of this av..
In what ways are national income statistics useful - Explain why an economy's output, in essence, is also its income.
How many workers should DD employ to maximize profit?
Assume that scientific studies provide you with the following information concerning the benefits and costs of sulfur dioxide emissions: What is the socially efficient level of emissions abatement?
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450 and If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
write down the normative economic statement and positive economic statement. describe in detail write difference when
explain the relationship between the price elasticity of demand and total revenue. what are the impacts of various
How does the critical value of the discount factor depend on the degree of product dif- ferentiation r ? What does r = 1 imply about the relationship between the two goods?
how do changes in planned expenditures affect the aggregate demand curve?
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