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Blutarsky is throwing a party at his Fraternity and is trying to choose how much beer and vodka to buy. A bottle of vodka has four times the alcohol as a six? pack of beer.a. If Blutarsky only cares about the total amount of alcohol in his basket, what is his marginal rate of substitution of bottles of vodka for six? packs of beer?b. Write out a utility function to represent these preferences.
Elucidate this point of language so that it is understandable to someone untrained in economics.
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function
Illustrate what are economic influences which affect the organization in a negative way.
Among which of these methods of encouraging growth would you suggest to a newly industrialized economy.
A monopolist can not hire fewer employee and pay a lower wage than a firm in a competitive labor market.
Assume that I am selling cans of beer to people on a beach. Since I am concerned about my income, I decide to sell beer in the following way.
Disclose what the book suggests once the short-term rate is much cheaper than the long-term in interest rate. Substantiate whether or not that is a normal occurrence or a cause for alarm.
Illustrtae what is the Nash equilibrium without an enforceable contract. Explain why this is the likely outcome.
Import Quotas also voluntary export agreements are often used instead of tariffs. What are the differences.
Computer the amount of manufacturing overhead incurred for the month. Suppose all costs are actual. Using actual costing, compute the cost of one unit.
What is national saving? What is private saving? What is public saving? How are these three variables related?
If the government of Amityville used a subsidy of $S per unit to encourage the optimal amount of chocolate production, illustrate what level should that subsidy be.
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