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A consumer has utility function given by u(x_1, x_2) = Squarerootx_1x_2. Suppose the price of good 1 falls from $5 to $2. while the price of good 2 and the consumer's income remain constant at $10 and $100, respectively. Find the substitution, income, and total effects on the demand for good 1 after the price change.
If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? What are the short-run and long-run effects on an economy of a ..
The affordable care act made important changes to the law of government programs and to the law of fraud and abuse. Please explain what changes were made and what programs this involved specifically.
A micro economist might study which of the following?
A monopolist faces the inverse demand curve: p(Q)=100-4q and a cost structure of: C(q)=q^(2) + 10q What is the profit maximizing amount of output for the firm and how much profit do they make at this level of production?
How will globalization impact our economy in both short run and the long run? State your arguments "for" and "against" globalization and finally summarize your view on globalization.
What is a subgame-perfect Nash equilibrium proposal of player 1, and what is the resulting outcome of the game
A market with demand Q = 10 p is supplied by a monopoly with costs C(Q) = 6 + 2Q. Calculate the equilibrium price, output, and monopoly profits. What would be the equilibrium if the market were supplied competitively by firms, and each firm had the s..
The article utilize this kind of calculation to show the difference among labor productivity growth.
Further you know that there is a 35% chance for a strong economy and a 50% chance for average growth. What is the expected return on this investment?
Business has only one social responsibility-to make profits (as long as it stays within the legal and moral rules of the game establised by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by..
The market risk premium is 10% also government risk-free bonds are payingIllustrate what is its Weighted Average Cost of Capital.
Do you feel that special interest groups have too much power in politics today? Why or why not? Do you think we should allow these interest groups to continue to function as they currently do? Why or why not? What do you think would happen to our nat..
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