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Jen spends all her income on shortbread cookies (S) and cupcakes (C). Her utility function is given by: U(S,C) = S +2C. Suppose that Jen has an income of $10 and that a cupcake costs $2 (pC = 1).b.Derive Jen's demand for shortbread cookies for pC = 2, Y = 10 and an arbitrary pS. Sketch the demand curve on a graph.c. Derive the Engel curve for shortbread cookies, assuming pC > 2pS, and sketch on a graph.
An ecologist is interested in the possible negative effects of marinas and boat mooring areas on the abundances of fish. Having read Hurlbert's paper about pseudoreplication, he de
Challenges to the American Labor Force
Explain about Economys growth rate Economy's growth rate: Long-term economic growth, or tendency growth, is the rate of growth the economy can sustain, ignoring the short-term
Q. Nominal interest rate and expected inflation? When we have inflation, we can't, of course, presume that expected inflation is zero. So real interest rate will no longer be e
Your firm usually uses about 200-300 tons of steel per year. Last year, you purchased 100 tons of steel than needed (at a price of $200 per ton) In the meantime, the price of steel
What is the relationship between deposit multipier,Credit Multiplier and Deposit multiplier?
Economic functions of money - A medium of exchange This is its most important role. Without money we would live in a barter economy where we would have to trade goods and
Why might external economies of scale be of interest to developing countries?
Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l
Assume two individuals, A and B, are considering marriage, and each face the same amount of hours a week to be split between market-labor and home-labor. Assume that A can make $2
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