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1. Consider the problem of maximizing u(c, t) subject to Pc + wl =wT + Y, where c is consumption leisure time T is the total time endowment, and Y is non wage income. Prove that if leisure is en inferior good then the labour supply function is upward-sloping.
2 Consider the problem of maximizing u a (x1, x2)3 subject to p1x1 + p2x2 = y. Derive the Marshallian demand functions and the indirect utility function, and confirm that Roy's identity holds.
(b) Why is the firm's demand curve flatter than the total market demand curve in monopolistic competition (c) Suppose a monopolistically competitive firm is making a positive economic profit in the short run. What will happen to its demand curve i..
Explain in one or two paragraphs why innovation is at the heart of creating and sustaining competitive advantage for firms. You need to mention the interrelationships between innovation and productivity
If the ABC company owns the exclusive rights to mine land in Afghanistan for Lapis Lazuli, a rare stone used in jewelry which is found only in Afghanistan, the company benefits from a barrier to entry.
What literature you are reviewing and how it contributes to your research question. You might want to consider areas such as additional readings on theory, policy relevance, debates and existing findings.
Determine the maximum number of lbs. of butter the economy can produce and
Two small airlines provide shuttle service between Las Vegas and Reno. The services are alike in every respect except that Fly Right bought its airplane for $500,000, while Fly by Night rents its plane for $30,000 per year. Analyze fixed costs, Ma..
Analyze the meaning of the phrase: "Made in USA" from a historical perspective and the importance (or lack of) it bears across the internationalization and globalization of the modern world. Explain and support your answer.
the concept of Social Security as originally envisioned by President Roosevelt; the viability of Social Security within the next 20-30 years; and 2-3 recommendations that would improve the viability of Social Security for the next generation.
question 1 suppose the nation of alphonia was charged with dumping electric lawnmowers in the nation of omegalon. the
There are only two polluting sources in the region, each of which generates 10 units of pollution for a total of 20 units released into the environment. The government determines that emissions must be reduced by 10 units across the region to achieve..
A gasoline station very near a professional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1,000 cars. This year it raised the parking price to $5.00 and parked 850 cars.
Suppose that you have the following sample: {3,4,4,6,8} estimate the mean and standard deviation.
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