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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 output where the firm maximises its total revenue
In a simple economy, people consume only 2 goods, food and clothing. The market basket of goods used to compute the CPI has 50 units of food and 10 units of clothing.
Following the general methodology used by econometricians as explained in the session for week 1 (eight steps), explain how you would proceed to determine if a good complies with t
The following table gives data on the Consumer Price Index (CPI) and the Standard & Poor (S&P) company''s index of 500 common stock prices. Year CPI Index S&P 500 Index 1978 65.2 9
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You are a property insurer and one of your potential clients, whose current wealth is $450,000, wants to insure her $250,000 house. The chances of the house burning down in any gi
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