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Alice and Bob survive on hamburgers and salads. Alice's utility function is UA = hA(SA -1) where hA and sA are her consumption of hamburgers and salads respectively. Bob's utility function is UB = [(hB-1)^2]sB where hB and sB are his consumption of hamburgers and salads respectively. Let p be the price of hamburgers measured in salads. Alice is endowed with one salad and two hamburgers. Bob is endowed with six salads and two hamburgers. Find the competitive equilibrium.
Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.
"The Economics of Professional Sports" Please respond to the following: Explain the economic consequences that would unfold if one of the major four sports leagues in the United States reorganized into a single-entity league. Discuss the consequen..
A. Explain why the consequences of unanticipated inflation are worse than anticipated inflation B. Discuss the consequences of deflation on the economy. Do deflation can be good, yes no, explain why
What are the primary difference between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price How do we compensate for these differences in order to improve
Rent-seeking behavior results in a)increased economic activity by promoting efficiency b)lower economic acitivity by diverting resources to less-productive uses c)a more equitable distributionof income and wealth
Construct a scatter graph showing the advertising and sales relationship over the last twelve months and using multiple regression, conduct an analysis of the firm's sales revenue, consumer incomes, and advertising.
Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply or does it indicate a decrease..
What factors affect the fuel efficiency of cars · To what extent would increased government involvement with regard to fuel efficiency affect the behavior of manufacturers · To what extent would increased government involvement with re..
A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver
Consider the demand for mobile phones. Suppose the price elasticity of demand for the market as a whole is .80. A. If all mobile-phone companies simultaneously increased their prices, will total revenue in the industry increase of decrease
Describe what happens to the economy when interest rates are lowered and the economy is at near-full employment using (The Aggregate Demand-Aggregate Supply Model) The end of your discussion should state the final effects
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