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You went out to dinner one night and observed one of your patients drinking heavily. The next day the patient is to check into the hospital for a pre-scheduled surgery. Your colleague found out about this and stated the patient’s behavior was irrational. You disagreed. Under what condition is behavior irrational according to the properties of consumer behavior discussed in the chapter? What situation could make this patient’s behavior rational?
The demise of the U.S. auto industry would have a devastating impact on our national economy and specifically the economies of Michigan and Ohio.
Decrease will have on the desired proportions of capital and labor used in producing the given level of output at minimum total cost.
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
Why does the Fed manipulate the money supply ? Why might a price "freeze" help monetary policy to succeed?
You are advising a software firm on developing appropriate disclosure policies. You spend some time analyzing the past data that the firm has made available to you and come up with the following numbers for a typical software product.
over the subsequent months, they changed their minds and discontinued the experiment. How did the timing affect their conclusion about the profitability of increasing prices?
Illustrate what price should you charge in order to maximize revenues from the sales of the Highlander. Please put this into Excel so I can see the formulas/calculations.
Draw the MC cure for Guns in terms of the production of butter. If the economy produces 3000 guns per day, how much butter can it produce per day.
Suppose that it take $100,000 of steel to produce $2,000,000 of cars. If the nominal tariff on steel is 10% for the steel and 20%for cars, what is the effective rate of protection for the steel industry?
There are, on average, 150 new migrants entering Hong Kong from the mainland every day. Use a diagram to explain how this affects the equilibrium wage and quantity of labour in Hong Kong.
How much would you be willing to pay for this security if he market interest rate is 6%? Suppose that you have just purchased the security, and suddenly the market interest rate falls to 5%. What is the security worth? Suppose that one year has elaps..
1. a woman and her son are debating about the average length of a preachers sermons on sunday morning. despite the
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