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a) Sam spends his $15 daily allowance on candy bars and bags of peanuts. The price of candy bars is $0.75 and the price of peanuts is $1.50.
(i) Construct a table showing the alternative combinations of the two products that are available.
(ii) Assume peanut bag is on the vertical axis and candy bar is on horizontal axis, compute the slope of the budget line using table derived from part
(iii) Compute the opportunity costs of one additional unit of candy bar and of one additional peanut bag.
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it.
Does this case illustrate the law of diminishing marginal productivity and in this case, less and less of a single factor, labor, is being used. Does this have anything to do with the law of diminishing marginal utility?
bulls eye department store specializes in the sales of discounted clothing shoes household items etc. similar to the
when the price of a top-of-the-line luxury sedan was 85000 there were 6184 sold. several years later when the price
Semiconductor manufacturing involves taking a flat disc of silicon
Identify the nature of resource cost structure and the practical significance of different costs;
Should people typically pay more attention to their real income or their nominal income? Explain
the ppf curve shows the economic choices a country can make about production given scarce resources a given technology
In October 1987, the US stock market crashed, with the Dow Jones Industrial Average falling 508 points, or 22%, in a single day.
What characterizes a winner-take-all labor market and Offer some reasons why corporate heads now earn much more than they did in the 1970s.
Elements of fiscal policy that tend to have to move the budget toward surplus as the economy expands and toward deficit as it contracts are called?
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