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Maurice has the following utility function:
u(X, Y) = 20X + 80Y - x2 - 2y2
where X is his consumption of CDs with a price of $1 and Y is his consumption of movie videos, with a rental price of $2.He plans to spend $41 on both forms of entertainment. Determine the number of CDs and video rentals that will maximize Maurice"s utility.
Consider three consumer goods: 100 of Good A, 100 of Good B, and 100 of Good C. In the base year, Good A sold at a price of $1, Good B sold at a price of $1, and Good C sold at a price of $1. In the current year, Good A sold at a price of $3, Go..
Name three goods or services with highly elastic price elasticity of supply. Name three goods or services with highly inelastic price elasticity of supply.
Evaluate the forecast error measures and residuals to determine if the error is acceptable or has systematic variation. Write conclusion relative to the acceptability of the forecast.
When looking at regression results, how do you know which of the estimated regression slope coefficients are STATISTICALLY SIGNIFICANT. How do you know if the independent variables explain a large fraction of the variance when looking at regression ..
Explain how you would modify the data in order to make it relevant to decisions a manager must make. Explain the major factors that affect the degree of competitiveness in your industry.
Express kinetic energy in terms of the base SI units: the kilogram, meter, and second. Write your answer in terms of the abbreviations ({kg, m, s}), and then identify the resulting derived unit.
For Profit Labs, Inc. (FPL) is a private laboratory that does only routine blood count. With total assets of $8 million last year, FPL took in $3 million in revenue and had expenses of $2 million. The average firms in other industries make a retur..
Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.
The firms and workers in Alpha form expectations adaptively. The firms and workers in Omega form expectations rationally. Their otherwise identical economies are initially in equilibrium at the natural level of output with 10 percent inflation.
the manager of global opportunities for a U.S. manufacturer, who is considering expanding sales into Europe. Your market research has identified three potential market opportunities: England, France, and Germany.
Write a brief report describing what shift factors of supply and/or demand might be at work and how you would label those factors. Conclude the report with your forecast of what would likely result one month after the publication of the article.
Assume that the price of silk ties in a perfectly competitive market is $17 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10 Total Cost 17 24 33 44 57 72 89 108 129 152 177
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