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Paul's utility function is u(x, y) = xy2. Let unit prices be given by Px = 6 cents, Py = 2 cents, and assume that Paul's budget is the same as Peter's from the previous problem: he has $9 to spend on coffee and sugar. Find Paul's best choice. Illustrate it graphically.
A firm has the certain total revenue (TR) function: TR=(4Q+2) e 4Q where Q is Quantity Find the firm's marginal revenue function.
I have a few econometric that require the use of R to generate the answer
expected solution plus hypothesis
You have collected data for 104 countries to address the difficult questions of the determinants for differences in the standard of living among the countries of the world. You rec
Over the next two years, Susan's income will be $33,000 in the first year and $33,000 in the second year. She can both borrow and lend money at the 10% of annual interest. (a) W
A store is known for is bargains. The store has the habit of lowering the price of its bargains each day, to ensure that articles are sold fast. Assume that you spot an item on Wed
For each pair of terms/concepts, define each term/concept and explain the relationship between them. The ideal answer is three sentences. One for each definition and one for the re
Question: (a) Formulate a VAR with 4 lags and also rewrite it in matrix form, mentioning the limitations of such models. (b) What is the rationale behind introducing lag-dep
A firm has the following inverse demand function: where Q is Quantity and P is Price (a) Find the firm's marginal revenue function. (b) Find the level of out
Assume that Jane spends her entire income of $100 on two goods, x and y. Moreover, these goods are perfect complements for her. Let the price of good x go up while the price
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