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1. Describe the indifference curves associated with two goods that are perfect substitutes. What if they are per- fect complements?
2. What is the difference between ordinal utility and cardinal utility? Explain why the assumption of car- dinal utility is not needed in order to rank consumer choices.
In March 2004, Ireland was the first country in the world to introduce an outright ban on smoking in workplaces. In the analyses below, when drawing your diagrams assume that workers can choose among only two products to consume at work, namely tobac..
Compute the doubling time for France's per capita real GDP.Compute the doubling time for Korea's per capita real GDP.
What is the value of prototyping in project
A(n) ____ may offer products that are either differentiated or nondifferentiated. What is the difference in profit maximization between the perfect competitor and all other types of firms?
Economists often stress that congestion helps account for the law of the diminishing returns.With this in mind, list and explain related increasing costs caused by traffic jam in Ho Chi Minh City, Vietnam
describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
What are the economic returns - you must talk in terms of both social and economic.
q.1 dick and jane are living in a two-bedroom unit in an apartment complex that has a swimming pool spa fitness center
Suppose worker productivity increased at the rate of 1.9% per year. If the Labor force grew by 1.5% per year, what rate of increase in RGDP would be sustainable without increasing inflation pressure?
you observe an olympic athlete in the long-jump. suppose the distance of each jump is a random variable that follows a
Prepare a brief paper defining direct and indirect channels of distribution. Discuss what are the key advantages and disadvantages of each channel for your company?
A rival publisher has raised the price of its best-selling accounting text by $15. One option is to exactly match this price hike and so exactly preserve your level of sales. Do you endorse this price increase?
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