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Question about Microeconomics problem
A consumer with the money-left-over utility function u(x) + m = 10 ln(x+1) +m is endowed with 100 units of x and $1000. This consumer can buy or sell the commodity in question, depending on its price. If, for instance, the price of x is $4 per unit and the consumer sells 25 units, she ends up with 75 units of the good and $1100 in money left over, for an ending utility level of 10 ln( 76) + 1100. If she buys 25 units, she ends with 125 units of the good and $900 in money left over, for an ending utility of 10 ln(126) +900. Given the price p of the good, the consumer buys or sells, doing whatever makes her ending utility as high as possible. As a function of the price p, what will this consumer do?
Use the aggregate demand-aggregate supply model to illustrate graphically the short-run and long-run impact of this decline on output and prices.
Explain how is it that monetary policy, such as open market operations.
Elucidate tools are used to accomplish conscious fiscal policy.
What might be included in the "total cost" of acquiring and watching movie on DVD? What about the "total cost" of seeing a movie at the multiplex?
Consider a firm that has just built a plant, which cost $20,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below:
Optimal consumption. The following Table describes the demand for tickets to the opera, during the two=-week season.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
In 1971, Congress conducted headings on emergency loan guarantee legislation for Lockheed Corporation, which was in the middle of a severe liquidity crisis due to losses on a number of military contracts.
Quantity of pizzas demanded soared he following week from 1 pie an hour to 100 pies an hour. Illustrate what was the price elasticity of demand for Domino's pizza.
What is the profit maximizing output level for the typical firm? (Hint: Calculate MC for each change in output, then find the equilibrium price, and calculate MR for each change in output)
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
Elucidate how your policy would help increase aggregate demand.
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