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Valerie wants to exercise and has a choice of going to an aerobics class, which costs $3 each time, or to the gym where she can work out with weights; the gym costs $2 per visit. She likes to do some of each type of exercise; that is, the more aerobics she does, the more she enjoys weightlifting, and vice versa. However, she enjoys aerobics, even if she never lifts weights, while weightlifting is fun for her only if she also does some aerobics. The following utility function reflects Valerie's preferences: u = xy + 4x where x is the number of aerobics classes per semester y is the number of visits to the gym for weightlifting per semester. Valerie's budget for exercising is $100 per semester. If the cost of gym per visit changes from $2 to $3. Calculate Miss Valerie's total price effect, substitution, and income effect of the price change.
Suppose Leonard, Nixon, & Shull Corporation's projected free cash flow for next year is $100,000, and FCF is expected to grow at a constant rate of 6%. If the company's weighted average cost of capital is 11%, what is the value of its operations?
Compare the effect of these two policies on consumer surplus and welfare. Use a graph to show which policy is superior.
Explain with the help of a clearly well labelled diagram why park fees create distortions or deadweight loss in this case?
In an investment set up as a perpetual trust, the annual disbursement for the first 10 years is $10,000. If the trust is set up initially with $100,000, determine the disbursement that can be made from year 11 through infinity if the interest earned ..
How can international trade theory explain intra-industry trade? why might we except intra-industry trade based on scale economies to be less politically controversial than intra-industry trade based on comparative advangate?
This is where the story that Country (A) broke all the financial rules begins to fall apart. In a lot of ways, the IMF's intervention was typical. Country (A) sharply reduced government spending and increased interest rates all the way up to 18 perce..
Increase in Government expenditure makes increase in real GDP via multiplier process. If the effective multiplier for fiscal policy is 2, how much change in government purchases would be required to close a 500 billion negative output gap, other thin..
q.country economic analysis report country for indiacollect the following data for the most recent year available1
The market demand functions for corn is Qd = 15 – 2P, and the supply function of corn is Qs = 5P – 2.5. Suppose the government gives corn farmers a $0.70 subsidy per bushel of corn. What will be the effects on aggregate surplus, consumer surplus, and..
In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Shou..
Suppose that individual A’s utility function, which only depends on wealth (W), is defined asU(W) = W0.5 ,where W stands for her/his wealth. Suppose her/his initial wealth is $10,000, and there is a 20% chance that she may get sick. In the event of i..
In game theory, a player following a maximum strategy
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