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The utility function for a consumer is U=30Q11/2Q212/. If the price per unit of Q1 is shs 10 and shs 5per unit of Q2, determine quantities Q1 and Q2 that the consumer should have to maximize utility if the consumer sh 350 budgeted.
Given the tremendous pressure post-retirement benefits such as pensions and retiree health care cost are placing on the finances of most state and local governm
If aliens come and take a large percentage of our cows what happens in the market for synthetic leather baseball gloves?
Photographs such as image B were extremely common in the media in 1989, showing East Berliners shopping in Western stores.
Which of the following is a justification for taxes ? Households act as suppliers when they provide :
q1. would you expect firms in a tight oligopoly market reap higher profits than firms in a loose oligopoly market?
When the economy is operating at full employment, why is an increase in aggregate demand not helpful to the economy?
Evaluate whether each of the following statements is true or false. Explain your answer and provide supporting rationale. The short-run aggregate supply (SAS) curve slopes upward because households spend more as their incomes increase. The long-run a..
On a given day in October, the number of customers that visit Hannah’s Haunted House is normally distributed with a mean of 85 and a variance of 400. What is the probability that the number of customers on one day is between 75 and 100?
The multiplier effect of a change in government purchases Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remaining $0.30. The marginal propensity to consume (MPC) for this econo..
A bond has a par value of $1,000, a current yield of 6.25 percent, and semiannual interest payments. The bond quote is 100.8. What is the amount of each coupon?
If a firm decreases the price of a good and total revenue decreases, then
In this island economy, the (a) Orange Grove Owner likes only bananas and the (b) Banana Grower only likes Chocolate. Furthermore, the (c) Chocolate Maker only likes Oranges. Explain how trade between these three producers can occur. Will the Orange ..
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