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Think about a time in the last month where you were forced to make a consumption decision in a way that would maximize your utility. We are all utility maximizers so there is a reason why some of you would prefer to buy 1 pizza and 1 pitcher of beer than 2 pizzas!
Use at least two of the following economic terms when discussing your real life examplemarginal utility, budget constraint, preferences, opportunity cost
Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always willing to exchange three black shirts for one red shirt. What type of preferences is mike exhibiting? Are Carl's preferences monotonic? How do you k..
Please provide list of Alternatives and Implementations for the Fortune 500 company Aramark. After they are listed, please give details in paragraph form.
David’s total variable cost function has been calculated to be TVC = 100Q + 30Q² - Q³, where Q is the number of units of output. When marginal cost is a minimum, what is the output level? When average variable cost is a minimum, what is the output le..
Graph a monopolist with upward sloping marginal cost and its profit maximizing output and price. Is the monopolist efficient? Explain using the concepts of Pareto efficient exchange. Do NOT use the term “dead weight loss”. Graph what occurs with a pr..
An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dolla..
Two restaurants are on the same block. One has been opened for 10 years and its a thriving business. The other one has been open for only a year. They both want to expand. When the two owners to to the local bank looking for a loan, which one is like..
Consider the following potential events that might have taken place at Global Con- glomerate on December 27, 2012. For each one, indicate which line items in Global's cash flow statement would be affected and by how much. Global reduces its dividends..
Ossuary produces whole wheat bread which sells for $3 a loaf. In order to produce an additional loaf of bread, it would cost Ossuary $3, but the average loaf only costs them $2.50. Assuming that the market for bread is competitive, is Ossuary in shor..
Discuss the importance of sales strategies and give examples of some typical strategies that might be pursued. Indicate why it is important for the sales manager to determine effective strategies for his or her sales force.
Suppose a competitive industry in in long-run equilibrium; then the price of a substitute good (in consumption) decreases. What happens in the short run? The market demand curve? The market supply curve? Market price?
For several years, Albert acted as a collection agent for Paulette. Recently, Paulette revoked Albert’s authority to collect payments from customers. However, neither Paulette nor Albert told any customers of Albert’s termination. Yesterday, Theresa,..
The decrease in investment that occurred as a result of banks being unwilling to lend to businesses after the collapse of the housing bubble caused: Because local banks earn fees for each loan, their role to:
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