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Consider the utility function U(x,y)=3x+6y. An agent with a budget constraint of 15x+5y=30 will choose which of the following bundles in order to maximize his utility? 1/2 unit of x and 1 unit of y 2 units of x 2/3 units of x and 4 units of y 6 units of y 1 unit of x and 3 units of y
If income elasticity of demand is 2.12, it means that quantity demanded will __________ by 2.12 percent for every __________ percent __________ in income.
In this problem, you will be asked to derive the block-pricing scheme that maximizes profit in the case of 2nd-degree price discrimination when a monopolist faces a consumer with high demand PH = 80 − QH, a consumer with low demand PL = 50 − QL, and ..
you recently joined magna enterprise a commercial real estate developer and have been given a position working directly
q1. elucidate how do the gdp per capitals change after accounting for price indices? explain why is it significant to
Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.
What are the goals/objectives of judges (what do they maximize)? Filing fees: for the marginal case, the one that may or may not be filed the filing cost should equalt what?
In addition to reviewing all the course materials, you should view the movie Inside Job, which is a look at corporate accountability regarding the ongoing international financial crisis. Incorporating facts and ideas presented in the course, includin..
Graph the following indifference curves for the given utility levels: U (x,y)= min {3y,x} for U= 3, 6, 9, 12, and 15 (what kind of relationship exists between these good? Substitutes, complements?
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?
Explain how much does the customer pay. Explain how much does the government receive as tax revenue.
Explain the potential role that the DOJ's leniency program might have on prosecutions and incentives for price fixing.
Illustrate what is meant by the term "natural monopoly" and what are the key characteristics.
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