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Suppose the quantity of good X demanded by individual 1 is given by X1 = 10 ?? 2PX + 0:01I1 + 0:4PY and the quantity of X demanded by individual 2 is X2 = 5 ?? PX + 0:02I2 + 0:2PYa) What is the market demand function for total X (= X1+X2) as a function of PX; I1; I2; and PY .b) Graph the two individual demand curves (with X on the horizontal axis, PX on the vertical axis) for the case I1 = 1000, I2 = 1000; and PY = 10.c) Using these individual demand curves, construct the market demand curve for total X. What is the algebraic equation for this curve?d) Now suppose I1 increases to 1100 and I2 decreases to 900. How would the market demand curve shift? How would the individual demand curves shift?e) Suppose PY rises to 15. Graph the new individual and market demand curves that would result.
Elucidate the return to deficit spending since the turn of the century. Consider the causes of the deficits and surpluses and provide your own insight.
Remain in mind about your paper that is going to be read by people without previous knowledge of game theory.
For each of the next 7 years, he received total dividends of $50 per year. For the remaining period, he received total dividends of $100 per year. What rate of return did he make on the investment?
What are the three reasons that a market might have a monopoly? Give an example of each. Is creating a government-created monopoly necessarily bad public policy? Explain.
who operates the industry as a monopoly and seeks to maximize profits from the sale of computers. Elucidate which of the following is a likely consequence of the monopolization of the industry.
Using production theory as a basis, is the CEO correct in his assumption that lazy workers or ineffective supervisors are to blame for the decline in productivity? What other explanations might be possible?
Explain why study pure competition if actual purely competitive markets do not exist? What can we learn from highly competitive markets. Briefly discuss.
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
Provide an example to discuss how special interests can succeed in perpetuating policies that are opposed by the majority of voters because the costs of organizing and motivating groups to take political action increase with group's size.
What is the expected impact of fall the business confidence. Explain with suitable diagram. Will monetary policy help to increase the investment by private sector in the presence of fall in the business policy.
If ABC adds an assembly line for the product and XYZ does not follow with a competitive product.
If operating capital is running $60,000,000 and employment is running 4,000 employees in the company, what is the value of the marginal rate of technical substitution between operating capital and labor in the Biddle Company?
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