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Suppose that at price vector p an economic agent is observed to buy the commodity bundle x. Furthermore, at the price vector p0 the agent chooses the bundle x0. In particular, the consumer consumes 3 goods. She is observed to choose the bundle x = (2; 4; 2) when the unit prices of the three goods are given by the vector p = (1; 1; 3). She is also observed to choose the bundle x0 = (4; 2; 2) when the unit prices are given by the vector p0 = (5; 5; 2). Do her choices violate the Week Axiom of Revealed Preferences? Explain why or why not.
State the Rybczynski Theorem. What would be the effect of immigration on output in the LONG RUN? Use box diagram in which total Labor and capital endowments.
what is the basis of the kinked-demand model? explain the reason for the gap in the oligopolists marginal-revenue
Why might former colonies that are only recently independent be more likely to be less-developed than long-independent nations? Can you think of any former.
One of the British financial institutions that specializes in banking and insurance services surveyed the external environment and reached the conclusion.
Analyze the factors that will cause the United States Dollar to appreciate and depreciate. Examine what type of policies would impact the United States Dollar.
A competitive firm has the following short-run cost function: c(y) = y^3-8y^2+30y+5. find the firm's marginal cost function. find the firm's average variable cost function. graph the marginal cost function and the average variable cost function
Write down the social planner's maximization problem and the social planner's optimality condition. Derive the Pareto optimal allocation for consumption.
Compare the primary costs involved in cleaning up the water immediately (and thus confessing) versus hiding your culpability now and possibly paying more in the future. Predict the impact on profitability in both situations. Justify your response.
Should the funding of education be entirely the responsibility of the Federal Government?
What is meant by weak stationarity and What is meant by an integrated time series?
what types of charts seem most appropriate for analyzing sales trends?
Explain your reasons for classifying the actors as you do. Use specific references to the film and pay special attention to how these decisions impacted characterization.
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