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1. Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always wiling to exchange three black shirts for one red shirt.
a. What type of preferences is Carl exhibiting?
b. Draw several indifference curves to illustrate Carl's preferences.
c. What is Carl's MRS?
d. Are Carl's preferences monotonie? How do you know?
e. Are Carl's preferences convex, strictly convex, or not convex? Explain/Show how you know
If you were the President of a large research-oriented medical school would you want your Board of Directors to invest in cigarette company stocks? Why or why not?
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For a monopolist that engages in price discrimination when the price elasticity in market 1 is less (in absolute value) than in market 2, the optimal price in market 1 will exceed the optimal price in market 2. Joint products are_____
The expected salvage value of the furniture is $5,000 in 2015. Determine the recovery period for the furniture and its depreciation deductions over the recovery period.
What happened to Ikonomia actir's net foreign assets during 2007. Did it acquire or lose foreign assets during year. Compute official settlements balance. Based on this number, what happened to central banks (foreign) reserves.
Global outsourcing has cost the U.S. economy far more than one million jobs since 2001, or somewhere between 15 and 35 percent of the total decline in employment since the onset of the 2001 recession. What will it likely do to lawyers' wages? How doe..
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Antitrust legislation is an attempt by government to make competition
Estimate the strength of your bargaining position for each option. Which of these would be the most advantageous.
The production function is given by f(x)=4x^1/2. If the price of a commodity produced is $60 per unit and the cost of the input is $20 per unit, how much profit will the firm make if it maximizes profit?
q.pham can work as many or as few hours as she wants at the college bookstore for 9 per hour. but due to her hectic
The largest labor union in the United States represents approximately
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