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Why does a newspaper dispenser open to a stack of newspapers and essentially “trusts” a consumer to take just one copy whereas a soft drink vending machine does not “trust” consumers and dispenses one can for each purchase?
Describe how marginal utility and demand are related.
Give a brief description of the law of diminishing marginal utility and use it to explain the downward slope of the demand curve.
What are the four dimensions of the typical consumer’s situation?
Explain the utility maximizing rule for two products in words and using algebra.
What is consumer equilibrium? How is it achieved?
Explain the utility maximizing rule in terms of hot dogs and hamburgers purchased at a ballgame.
Why is it not sufficient to just compare the marginal utility of two goods when maximizing utility?
Assume that a consumer purchases a combination of products A and B. The MUa is 5 and the Pa is $5. The MUb is 6 and the Pb is $6. What should this consumer do to maximize utility?
Consider a homogeneous good market with the following market demand curve: Q = 8 − p, 0 ≤ p ≤ 8 = 0, p > 8. Two firms produce output at constant marginal cost which may be different. Derive the Nash equilibrium outcome and the profits of the two firm..
To prevent inflation,the Fed should follow Teddy Roosevelt's advice: 'Speak softly and carry a big stick.'" What would the Fed's "big stick" be? What is the statement trying to say?
Using a required reserve ratio of 10% and assuming that banks keep no excess reserves, what is the value of government securities the Fed must purchase if it wants to increase the money supply by $2 million?
q.like supermarkets full- service department stores like macys are generally in decline. what factors might these types
If you want to withdraw $20,000 at the end of three years and $50,000 at the end of five years, how much should you deposit now into an account that pays 8% interest compounded annually?
You are a financial planner attempting to evaluate your investment strategy to recommend to clients. Based on your economic background, you believe the Fed is going to loosen monetary policy.
A profit-maximizing firm hires labor up to the point where. Accountants calculate. Which of the following is NOT a factor of production? Normal profit is a(n) ________ cost because ________.
In listening to Peter Schiff "US Economy 2015 Collapse" and Dr. Marc Faber "Gloom Boom and Doom the global economy" How should a domestic (American-based) business intelligently and efficiently respond to the current trends in the global economy?
q1. the number of taxicabs in motorville and the taxicab fares are regulated. the fare currently charged is 5 a ride.
Illustrate what direction wills each of the subsequent occurrences shift the consumption also saving schedules, other things equal.
After reading Psalm 55:21, discuss the freedom of speech section of the First Amendment to the U.S. Constitution and its protection and permitted regulation, of commercial and political speech engaged in by business, including justifications for such..
A company is trying to predict the long-run market share of a new men's deodorant. Based on initial marketing studies, they believe that 35% of new purchasers in this market will ultimately try this brand. Develop a general model for predicting long-..
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