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A vital question is whether the equilibrium we have identified in labor market (with a high unemployment rate) can remain in long run. Will there not be adjustments which will take
Explain what convex indifference curves means in terms of marginal utility. What properties must a utility function have in order to obtain convex indifference curves?
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Movie attendance dropped 8 percent as ticket prices rose a little more than 5 percent. What is price elasticity of demand for movie tickets? Could price elasticity be somewhat over
The following Cobb-Douglas production function is used to describe the output generated by a local government maintenance agency. Q = αL β1 K β2 E β3 Where L represents numb
The data set lowbwt.sav contains information for a sample of 100 low birth weight infants born in two teaching hospitals in Boston. Measurements of systolic blood pressure are sa
Bread is a related good to peanut butter: show on the graph of the market for peanut butter, the impact on the price and quantity from an increase in the price of bread.
Price/Feeder Quantity Demanded Quantity Supplied $300 500 1800 270 600 1700 240 700 1600 210 800 1500 180 1000 1400 150 1100 1300 120 1200 1200 90 1300 1100 60 1400 1000 30 1500 90
"Consumption" is an old name for tuberculosis (TB) that explains how the illness wastes away or consumes its victims. TB is "an ancient enemy" that has plagued human kind for more
Income and Substitution Effects of a Price Change Indifference curve analysis can be used to separate the income effect (IE) from substitution effect (SE). This is shown in Fig
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