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1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current situation or working one more hour in exchange for two additional units of consumption. Is this agent maximizing is utility? Why? Should he be working more hours? or fewer?
1. A standard solution of potassium hydroxide (KOH) was prepared by dissolving 15g of KOH in 250.0mL of distilled water. (a) Calculate the concentration of this standard solution.
Special Drawing Rights: The late 1960s witnessed that the growth in world resources did not keep pace with the growth in international trade. The slackness in the growth of re
Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
Ask question #what is an indifference curveMinimum 100 words accepted#
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
in the keynesian model, the price is assumed to be what?
discuss the implications of various market structure for price determination
Tuan lives in a town with only one movie rental store. Suppose Tuan’s demand for movie rentals per month is Q = 16- 2P . The movie store currently charges $5 per movie, but is thin
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