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During his first year at school, Ximing buys eight new college textbooks at a cost of $50 each. Used books cost $30 each. When the bookstore announces a 20% price increase in new texts and a 10% increase in used texts for the next year, Ximing's father offers him $80 extra. Is Ximing better off, the same, or worse off after the price change? Why
Pat eats eggs and toast for breakfast and insists on having three pieces of toast for every two eggs he eats. Derive his utility function. If the price of eggs increases but we compensate Pat to make him just as "happy" as he was before the price change, what hap- pens to his consumption of eggs? Draw a graph and explain your diagram. Does the change in his con- sumption reflect a substitution or an income effect?
The advent of personal computers also word processing software which eliminated the market for electric typewriters would be an example
The cause and effect on how and why there was a government shut down a month ago.
Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact--be specific.
wo companies A also B are duopolists who produce identical products. Determine the long run equilibrium output also selling price for each firm.
Why might leasing a new Porsche be good investment for an aspiring Hollywood film producer, even though, he can't easily afford the monthly payments.
Elucidate how would an increase in airfares affect the number of highway fatalities in any one year
China has continued to lag well behind the rest of the world in information technologies
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
If there are n firms in the marketplace also every firm charges p. Illustrate what is total producer surplus.
What do you think that Apple's ability to control the pricing of downloaded song is likely to change in the future.
Use indifference analysis to demonstrate the income, substitution also the total effects if good X is a non-Griffin inferior one.
Allied Electrons must purchase a new automatic soldering machine to meet increased demand for its electronic goods.
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