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You observe a consumer in two situations: with an income of $100 he buys 5 units of good 1 at a price of $10 per unit and 10 units of good 2 at a price of $5 per unit. With an income of $175 he buys 3 units of good 1 at a price of $15 per unit and 13 units of good 2 at a price of $10 per unit. Do the actions of this consumer conform to the basic axioms of consumer behaviour?
Now suppose the two doctors play this game twice. Also, suppose each doctor can play one of two strategies: it can play either "always charge the low price" or "tit for tat"- that is, it starts off charging the high price in the first period
Why do you think your policy would work in reducing the total amount of emissions and explain the costs and the benefits of the policy that you choose.
Provide a brief critique of the CEO's use of your analysis to arrive at her decision to keep the tuition reimbursement program. Assume that she has no additional information on the relationship between employee happiness and participation in the t..
From the scenario for Katrina's Candies, assuming the absence of quantitative data, determine the qualitative forecasting techniques that could be used within this scenario. Now, assume you have acquired some time series data that would enable you..
1. Market failure occurs when an unregulated marketa. does not produce the efficient output level.b. does not produce the optimal price and output combination.c. is missing the price for a good or service..
The unemployment rate
Microeconomics Summarize the two articles - Should the United States Worry about High-Tech Competition from India and China?
firms often face the problem of allocating an input in fixed supply among different products. find the optimal crude
Suppose that the absolute value of the price elasticity of demand for firms A, B, C, and D is 0,0.8,1, and 1.5 respectively. An increase in the price would reduce quantity demanded for
What’s Behind Starbucks’ Price Hike? By how much could unit sales of coffee beans at Starbucks decline after the 2006 price increase while keeping total revenue constant? Instructions: Enter your responses as a positive percent (do not include a nega..
Formulate the LP problem that maximizes expected profit, where the expected profit is the average profit from the 10 years of observations.
5) Consider two people playing an ultimatum game over $10 that can be divided in $1increments ($10-$0, $9-$1, $8-$2, etc.). Suppose it is common knowledge among them that both have Fehr-Schmidt utility functions with the assumptions given i..
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