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Suppose that Bob's preferences are given by U(L,C) = [α * log(L)] + [(1- α) * log(C)] with C equal to consumption, L equal to the number of leisure weeks, and the parameter α ranging between 0 and 1. Calculate Bob's marginal rate of substitution as a function of L,C, and α.
how does a government budget deficit affect the economy? identify two periods in recent history in which the united
analyze the major short-run and long-run production and cost functions for the low-calorie microwaveable food company.
One of the lessons of economics is that "there is no such thing as a free lunch." That means that businesses, consumers and whole societies face tradeoffs whenever they make a decision. Explain a decision that you have made at work or concerning your..
suppose that two countries a and b have the same rates of investment and depreciation the same levels of productivity
Agree or Disagree, and Describe: When estimating a regression with a binary dependent variable, it is necessary to use heteroskedasticity-robust standard error estimates to test hypotheses about the regression coefficients.
Determine what type of monetary policy has the Federal Reserve been using for the last year easy or expansionary, tight or contractionary, or neutral or non-involvement)?
n firms choose prices simultaneously in each period. nbspthe discount factor is delta per period. nbspsuppose firms try
Kidney cancer drug delays cancer progression for six months, with no known side effects. An estimated treatment cost is $54,000. What is the cost per Quality Adjusted Life Year?
During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the “price gouging” and “windfall” profits of the major oil companies. In the 1970s Congress imposed an “excess profits tax” on these companies.
suppose you are studying the market for shoes. two events take place simultaneously. first price of leather decreases
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
All of the questions in this Part refer to the market for gasoline. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Huge new crude oil reserves are discovered in th..
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