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A decision maker wishe to minimize the cost of producing a given level of total benefit, B = 288. The cost function is C = 6x + 3y and the total benefit is B = xy. Set up the Lagrangian adn then determine the levels of x and y at the minimum level of cost. What is the minimu value of cost?
Suppose the consumtion function is ( C = $500 billion + 0.9Y) and the government wants to stimulate the economy. By how much will the aggregate demand at current prices shift intially (before multiplier effects) with (a) A 50 billion dollar increa..
The percentage changes in quantity demanded divided by the percentage change in price.
Illustrate what will happen to the wages of IT professionals when there is a glut of workers. In terms of supply and demand, what can individual IT professionals do to increase their wages.
This customer can buy or sell the commodity depending on its cost.
In order for you to be indifferent between the after tax returns on a corporate bond paying 8.5 percent and a tax-exempt municipal bond paying 6.12 percent,
Elucidate the excess of cost over the marginal price at the profit maximizing price-quantity combination?
In 2009, the US Postal Service increased first-class postage rates from 42 cents to 44 cents. The service had been losing money. One of the reasons is increased competition from companies such as United Parcel Service
A typical university football programs requires alumni to join one of several booster club each club gets seats in different parts of the stadium before the person can buy season tickets. Ilustrtate what has this got to do with consumer surplus.
It is like the FRB has already tried to stimulate the economy by lowering interest rates
What are the major differences between capitalism, communism, and socialism? B. Discuss the three major economic indicators and how they are indicative of our current economic climate.
Dot.com Products, offers storage containers for fine china on the Internet. The corporation is the low-cost retailer of these quilted boxes with fixed costs of $480,000 a year,
Explain how do you plan to use this while making decisions about public expenditures.
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