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Ben and John like cookies C and roads R. Their respective utility functions are defined as follows:
Ub = ln(Cb )+ln(Rb +Rj)
Uj = ln(Cj)+ln(Rb +Rj) Both enjoy a $20 income. The price of cookie is 1 while the price of road is 2.
a When they take their decisions separately, how much roads do Ben and John decide to consume?
b What is the socially-optimal level of road consumption?
c Explain the differences observed between the two previous questions.
Comparing the situation of a nominal rate of 10 percent and an inflation rate of 9 percent with a nominal interest rate of 6 percent and inflation rate of 2 percent, consumers would borrow more in which situation?
How does each of the following affect the firms’ ability to organize and sustain a viable cartel?
How do venture capital boards differ in composition from the boards of companies that have been bought out and why would a board have special voting rights? How do these address some of the basic tenets of private equity?
q.1. short-term production function q 50l 6l2 - 0.5l3a. when the law of diminishing returns does begin to take
It rains so much in the country of Tropicana that capital equipment rusts out (depreciates) at a much faster rate than it does in the country of Sahara. If the countries are otherwise identical, in which country will the Golden Rule level of capital ..
Assume a binomial probability distribution with n = 40 and p = .55. Compute the following: The mean and standard deviation of the random variable. The probability that X is between 15 and 25 inclusive.
Pick any public company and discuss which 2 or 3 macroeconomic indicators which would most profoundly affect that business and why.
Calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
Which fiscal policies might activist Keynesian economists recommend helping a depressed economy regain full employment
From FDR's Folly Chapter 13: Explain why there was not widespread support for a U.S. federal pension plan prior to 1935. Explain why there is a pervasive misunderstanding that citizens who have paid Social Security taxes are entitled to benefits when..
In The Theory of the Leisure Class by Thorstein Veblen. What does it tell about the period in which the writer composed it? What purpose does the document have regarding the nature of econmonics and the meaning of leisure, and how does the author def..
The economic and financial crisis from 2008 to 2009, also known as the global financial crisis, was considered to be the worst financial crisis since the Great Depression. The general situation at financial markets has been additionally complicated b..
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