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Question: Suppose the utility function for Linda is given by u(x1, x2) = log x1 + x2 and her budget constraint is given by p1x2 + p2x2 = m
(a) Derive the demand function for Linda for both goods. (Hint: the demand of any good can not be negative!)
(b) Write down the inverse demand function for good 1 when p2 = 1 and m = 5.
(c) Suppose her income increases to m' but all the prices remains the same. What happens to her demand for good 1?
(d) Now suppose her income is still m but price of good 1 has gone up to p^1 , show the Slutsky decomposition of substitution and income effect in a diagram in the x1- x2 plane. Label the two axes and all curves properly. Show all directions of the movement of consumption bundles.
How might you have done the appraisal differently if you could? Did evaluation help you to improve your performance, hinder your performance, or have no effect?
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When the price declines to $19, consumers purchase 200 per week. Based on this information, calculate the price elasticity of demand for logo-emblazoned shirts.
Describe the leadership characteristics possessed by this person, or explain which important characteristics this person lacks. If you were providing helpful leadership advice to this person, what would you suggest?
2)BASIC STOCK ANALYSIS a) For each stock calculate the historical average return, the volatility, both on a daily base and annualized, and the correlation amongst the four stocks. Explain how you calculate them. b) What is your first assessmen..
1a cut in government spending a decrease in income abroad an increase in taxes or an expectation that future consumer
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When someone argues that the national debt is bankrupting the country.
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assume you are a policy maker in washington dc. lobbyists for the preschoolers of america h e put pressure on their
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