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Using MRI to Measure Utility. Your firm uses an MRI machine to measure blood flow within the brain, allowing the measurement of the satisfaction level of a consumer before and after consuming a product. Your job is to determine whether the firm spent its holiday party budget wisely on cookies and punch. The firm s objective is to maximize the utility of the typical employee.
a. If you could hook up the MRI to the typical person, what information would you collect?
b. Give an example of information that would suggest the firm should have provided more cookies and less punch.
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..
Suppose that the marginal product of the last worker employed by the Delicious Ice Cream Company is 300 units of output per day and the daily wage that the firm must pay is $50, while the marginal product of the last ice cream machine
How much does the economy have to grow (potential output is, 3.5% and the unemployment rate is 7.3%) in 2014 to bring the unemployment rate down to 5%? How much does it have to grow each year to bring the unemployment rate down to 5% by 2017.
Assume that a "leader country" has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 perc..
CONSIDER AN ECONOMY IN WHICH THE CONSUMPTION FUCTION TAKES THE FOLLOWING SIMPLE ALGEBRIC FORM C=300 +0.75 DI AND IN WHICH INVESTMENT (I) IS ALWAYS 900.00AND THE NET EXPORTS ARE ALWAYS -100.00
In the town of Woodland, California, there are many dentists but only one eye doctor. The market demand curve for eye exams is P = 115 - 2Q, marginal revenue is MR = 115 - 4Q and the marginal cost for an eye exam is constantly $35.
Suppose the price elasticity of demand for vanity plates in your state is 0.60. The initial price is $20 and the initial quantity is 1,000 plates per week. Suppose the state increases the prices by 10%. Predict the new quantity per week and total ..
If we decide to give the supplier a given dollar amount per vaccination supplied in order to reduce price and therefore increase the number of vaccinations to the social optimum, what would be the dollar value of that per-unit subsidy?
Which of these colonies became more like "Creole societies," and why? Were these colonies more similar or more different, and why?
In January, 2,500 quarts of ice cream are sold in Boston at $2 perquart. In February, 3,000 quarts are sold at $2.50 a quart. This change in the price and quantity sold of ice cream mayhave been caused by a. areduction in wages in the Boston area.
Period company return market index return, Determine the company and the market index and show the calculations.
What curve shifted, and what factor shifted it
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