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1. What happens to the marginal rate of substitution as you move along a convex indifference curve? A linear indifference curve?
2. Explain why an MRS between two goods must equal the ratio of the price of the goods for the consumer to achieve maximum satisfaction.
If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $3 per unit, how many bouquets per month should she sell in the short r..
A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units that it must lower the price of its output from $2 to $1. Calculate the quantity effect and the price effect
question 1. the world price for baseballs is 24 per dozen and almost all of them are produced outside the u.s. suppose
Determine the performance of the hospital industry
Presume as a manager of a profitable department store you are confronted with a pricing problem. You have two types of consumers: a high-end type that are willing to pay a price of $25 for a pair of Levis Jeans, and a low-end type consumer that are w..
The demand curve for ice cream in a small town has been stable for the past few years. In most months, when the equilibrium price is $3 per serving for the most popular ice cream
a 7 coupon bond issued by the state of new york sells for 1000 and thus provides a 7 yield to maturity. for an investor
Dave deposits $5,000 into a savings account that pays 7.2 percent per year, continuously compounded. What is the effective annual interest rate? Decide the value of his account at the end of two years.
Compare the job of a delivery person and a computer network administrator. In which of these jobs does a worker have more bargaining power? Why?
What is the equilibrium wage and employment if the labor market is competitive?
The Landrum-Griffin Act of 1959 was passed in reaction to: Which of the following would not be considered a fringe benefit? The process by which unions and management negotiate a contract is called: Which of the following is true about mediation and ..
much has been made of the fact that people dont consistently act with scientific rationality. what is meant by
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