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What is the key assumption needed to show how one can construct a numerical utility function out of just a preference ordering? Don't just draw a picture; explain what the assumption means and apply it to show how to construct that numerical utility function.
in the diagram above discuss the implication to economic efficiency of an economy operating at point x .v. operating on
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of coffee.
1. why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises
sometimes a bidder on a work contract may bid lower than what would maximize hisher profit from the contract and the
Discuss and explain the income and consumption relationship make sure to describe marginal propensity to consume. If you received an extra dollar, how much of it would you spend?
in the old days lighthouses were built along the coast to prevent ships from runnung around on the rocks in unfamiliar
If you both bring supplies to squeeze your own lemons, you can keep up with flow of customers, can charge more per cup and make about an average of $54.60 If you both bring some awful, over-sweetened powdered lemonade mix, you can keep up with th..
What combination of capital and labour should it use to produce and what would be the cost of production
develop a preliminary swot strengths weaknesses opportunities and threats analysis for qmc. because this is a new
What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?
Demand Curves for Public Goods Adam and Eve live on two sides of the Garden of Eden, a small suburban development. After they move in, an old PCB dump is discovered in between their houses. If X total tons of PCB's are removed from the dump, the t..
Is this measure stabilizing or destabilizing. Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on the size of the federal deficit.
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