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What is the meaning of utility in microeconomic theory? In answering this question, consider the following. Why are goods that seem to harm the individual's physical or mental wellbeing placed in the utility function? Why do goods with upward-sloping demand functions (i.e. with ∂xd i/∂pi > 0) due to snob appeal possess the marginal utility that they do?
What is the signi?cance of the environment ( physical, economic, social, political, etc.) as an element in the determination of the preferences of the individual?
At the profit-maximizing output level you reported in question 3, is the El Dorado Star making the greatest possible amount of TOTAL REVENUE? Is this what you expected? Explain BRIEFLY
Presume that the central bank has increased the money supply such that there is an additional $241907 in excess reserves. If the reserve ratio is 8.0 %, what is the maximum the money supply could increase? Round your answer to the nearest dollar
How can we test the hypothesis that a particular coin is balanced and What is the meaning of type I and type II error in this case?
choose a major publicly traded automotive producer such as general motors ford toyota or volkswagen. then research this
Assume that your current income is $50,000 per year and you expect inflation to be 5 percent over the next year a. What must your nominal income be next year for your expected real income to remain unchanged? Briefly explain how you arrived at your a..
Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants. The firm selling suits faces no competition and has a marginal cost of zero.
1.why would suppliers be willing to accept prices that cover variable costs but do not cover total costs? how does the
as a manager you have influence over your coworkers. this influence affects the employees work life and family life.
Find as many Cournot equilibria as you can for this model, as a function of the parameters N and B . (WARNING: Do not assume that solutions of first-order conditions are necessarily global maxima.)
suppose that 0 coupon us treasuries due to mature in 1 year were yielding 3 while 0 coupon us treasuries maturing in 2
21st Century Pen Inc. produces 2000 pens per day, and hires 20 workers at a cost of $200 per day per worker. The price of each pen is $5 each. 21st Century Pen Inc. pays a daily rental rate of $60 on its factory and a daily insurance rate of $20. ..
A firm has monthly production function Q (L, K) = L +( ?1+K), where L is worker hours per month and K is square feet of manufacturing space. The marginal rate of technical substitution is |MRTS|= 2 (?1+K)
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