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Question: Explain how, in a two-input/two-output economy, the allocation of resources might be improved if the (common) marginal rate of substitution for X and Y held by each of the two consumers were not equal to the marginal rate of transformation. By what mechanism is the condition (mrs = mrt) satisfied in a competitive equilibrium (CE)?
If the present rental rate of one-bedroom apartments is $1,000 per month, through what mechanism will the rental rate adjust to the equilibrium rental rate of $800?
The account balance on April 1st is $50.51. On April 15th a payment of $15.00 is made. On April 25th a purchase of $19.27 is made. The annual rate is 18%. What is the finance charge using the previous balance method? What is the new balance?
Nationwide, undergraduate college enrollment by gender is 55% female and 45% male. A professor wants to know the opinions of male versus female undergraduates nationwide. To ensure equal representation of the two genders, what sampling method shou..
A production manager is faced with the question of how to allocate the manufacturing of a microwave oven between his own company and a subcontractor, because neither firm can handle the demand alone.
Compare and contrast internal and external validity. Describe and give examples of research questions for which external validity is a primary concern.
question 1 the data in djia.xls represent the closing values of the dow jones industrial average djia from 1979 through
The slopes in the direction field are all identical along horizontal lines and new solutions can be generated from old ones by time shifting (i.e., replacing y(t) with y(t - t0).
Your optimal solution should indicate that no amount of feed f2 should be pur- chased and fed to the farmer's cows. By how much should feed f2's current price of $0.50 per pound decrease in order for the optimal solution to change?
Compute the optimal order quantity, the total minimum inventory cost, and the reorder point.
For example, a patient who begins the day in fair condition has a 12% chance of being in critical condition the next day and a 3% chance of being discharged the next day in improved condition. a. Consider a patient who enters the hospital in good..
The number of users that were logged into an Internet server was monitored every minute, over a period of 100 minutes. Here are the results.
A helium-filled balloon is tied to a 2.00-m-long, 0.050 0-kg uniform string. The balloon is spherical with a radius of 0.400 m. When released, it lifts a length h of string and then remains in equilibrium, as in Figure P14.55. Determine the value ..
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