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Consider the following utility function: U(x,y) = min {3x, x+y, 2y}. sketch the indifference curves and show where the "corners" are. If the prices or x and y are P_x = 5 and P_y = 1, respectively
Define marginal revenue. How is it calculated? Why is marginal revenue constant and equal to price under perfect competition?
The day after Thanksgiving, I've already invested time and money in training you, and don't have time to train a replacement; you suddenly realize you're in a strong bargaining position, and threaten to quit unless I raise your salary.
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908 and how does the taxation change if the income was $220,874?
Miller Manufacturing has a target debt ratio of 70% (that means weight of debt is 70%). Its cost of equity is 18%, and its cost of debt is 10%. If the tax rate is 35%, what is Miller's WACC?
Discuss its implications and assess its importance for macroeconomic policy.
Provide an example of an airline or aviation firm trying to take advantage of economies of scale. Do you think they are/were successful? In what way?
One can derive a demand function for health and for medical services from the Grossman model. Explain the differences between the two demand functions. Why does demand for health and for medical services depend on age?
Some states are required to balance their budgets. Is this measure stabilizing or destabilizing? Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on t..
Compute the short run total product, average product of labor and marginal product of labor for all numbers of L between 0 and 7.
A policy may yield a Pareto superior outcome so long as the gains to those who benefit are greater than the losses to those who are worse off.
Being a rational consumer, at August prices Tony purchased 25 nuts. How many berries did he consume in August? What was the marginal rate of substitution at the optimal consumption bundle
Conduct a VRIO analysis of a successful firm or organization relative to one of its rivals. Contrast the value, rarity, imitability, and organizational aspects of its tangible and intangible resources and capabilities to those of its rival.
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