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Suppose an average traveler's tastes can be described by the utility function u(x1, x2, x3)=x1x3+x2, where x1 is miles travelled by air, x2 is other consumption, and x3 is an index of air safety that ranges from 0 to 100. Calculate the MRS of other goods for airline miles; i.e., the MRS that represents the slope of the indifference curves when x1 is on the horizontal and x2 is on the vertical axis.
Some economists prefer to use the term businessfluctuations rather than business cycles toSome economists prefer to use the term business fluctuations rather than business cycles to discuss the historical growth record in the united states because..
Suppose that the market for wheat is characterized by the following demand and supply relationships.
Should Joe continue to search or buy a DVD player at a price of $200. Elucidate your answer and show your calculations.
Elucidate your reasons as to whether oligopolies are bad for society in part a and how it applies to the beer industry in part b. Submit your analysis in a one to three page paper.
Assume a $6 excise tax is imposed on the good. Conclude the new equilibrium cost also quantity.
For depreciation purposes, the purchase cost of the warehouse is divided into $100,000 in land also $400,000 in building. The building is a CCA Class 1 asset also is depreciated accordingly.
What is Wirelesses' producer surplus from sales for each low-demand as well as consumer.
Would the sales of pollution rights or certificates be an efficient means of allocating a given amount of pollution.
Elucidate how the central bank manages a nation's monetary system. Outline the stated direction of recent monetary policy in the United States.
Identify the point on the budget constraint this worker has chosen. Elucidate how much is he working every day.
Write down an expression for the profit GBC will make if it uses L units of labor at $1 an hour and sells the resulting output of cookies at $p a cookie.
Elucidate how that a profit-maximizing bundle will typically not exist for a technology that exhibits increasing returns to scale
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