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1) You are choosing between two goods, X and Y, and your marginal utility from each is shown in the table below. If your income is $9 and the prices of X and Y is $2 and $1, respectively, what quantities of each will you purchase to maximize utility? What total utility will you realize? Assume that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase?
2) The utility-maximization model assumes that the typical consumer is rational and acts on the basis of well-defined preferences. Because income is limited and goods have prices, the consumer cannot purchase all the goods and services he or she might want. The consumer therefore selects the attainable combination of goods that maximizes his or her utility or satisfaction.
If the indurtry can pay only one of the six salary levels shown, which should it choose? How many workers will it employ?
Carmen opens a retail store. Her sales during 1st year are $600,000, of which $30,000 has not been collected at the year end. Her purchases are $400,000.
Consider the Bertrand model with no product differentiated in which each firm has a positive and fixed sunk cost F and zero marginal cost. What are the equilibrium prices and profits? Illustrate your result on a proper diagram.
What did the central banks do to stabilize the financial systems in 2007-2009 and Describe when and why central banks buy either their own currency or the currency of another nation in an effort to control exchange rates.
Depends on what you perceive as the results of free trade agreements such as NAFTA, would you recommend that President Obama continue on the path.
Illustrate what price per ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs.
These specials comprises of a significant price reduction on selected menu items purchased before some pre-determined time
A monopoly is manufacturing a level of output at which price is $80, marginal revenue is $40, average total expenses is $100, marginal cost is $40and average fixed cost is $10.
What could a president or other government policymaker do to raise a contry's standard of living.
Assume you want to hedge a $400 million bond portfolio with a duration of 4.3 years using 10- year Treasury note futures with a duration of 6.7 years.
What sort of shift in supply or demand would result in a market equilibrium with higher prices but lower sales volume? A shift inward in supply could lead to an equilibrium with higher prices but lower volumes. What might cause such a shift?
Suppose that rich countries surprisingly commit to much higher official aid, to be maintained for several decades. What would be the effect of such aid on?
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