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Year 1 Year 2
Quantity Price Quantity Price
Oranges 100 $5 150 $5
Pears 100 $3 75 $4
1) what is the growth rate of constant- dollar real gdp using year 1 as the base year?
2) What is the growth rate of constant- dollar ral GDP using year 2 as the base year?
If over speeding by 10 mph results in the probability of dying in one hour to be 1 in 400,000, use the Jones-Lee approach to estimate Junior’s value for his life if he makes $90 per hour. What if the probability of dying is 1 in 5,000,000?
Assume that PY increases by 15%, what percentage effect on quantity demanded of product X could be expected.
Which of the two units would you recommend ? What initial cost of machine A would make the two machines identical in overall cost? P.S. I need work shown please to know how to complete problem
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility.
Compute the change in the level of real GDP demanded for each of the following values of the MPC. Then, calculate the change if the government, instead of reducing its purchases, increased autonomous net taxes by $10 billion.
Explain how are money cost and opportunity cost related to each other. If markets function well, they are closely related. They are always identical in any economic system.
What are the four roles that states can play in negotiated global environmental regimes? What determines what role a state might play? Why do states sometimes shift roles?
Show that for any level of output q, the minimum cost of producing q is $q. d. Explain how a 10% wage tax would affect the way in which the firm chooses to produce any given amount of output
Convert the production function into its normal form. Illustrate what is the MRTS, if price of labour is $120 and the price of capital is $200?
Find out the equation for the linear supply curve which fits this information. What would the new equilibrium price and quantity be if supply were to increase by 20%.
Illustrate what is the effective rate of protection for sneakers.
A basic assumption for comparing the straight-line production possibilities curves for two nations is that the production possibilities curves reflect.
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