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Mylie's total utility from singing the same song over and over is 50 utils after one repetition, 90 utils after two repetitions, 70 utils after three repetitions, 20 utils after four repetitions, 250 utils after five repetitions, and 2200 utils after six repetitions. Write down her marginal utility for each repetition. Once Mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous one or less than the previous one?
Use the following information for a company's output at various levels of employment (L) to compute:
Explain why this strategy may, in fact, be rational. Also, identify at least two other strategies that might permit Argyle to earn higher profits.
Assume that the following information about the economy is correct. The potential GDP is 3 percent. Real GDP has fallen at a minus two percent rate in the last 12 months.
A rise in corporate income taxes increases the investment in physical capital for any given interest rate.
1) What is the probability that a microprocessor will have 0 imperfections 2) What is the probability that a microprocessor will have more than 2 imperfections 3) Out of the 100 microprocessors on the sheet, how many would you expect to have more tha..
Explain in words how and why the income sensitivity of the demand for real balances affect the slope of the LM curve. Think of the demand for real balances as L(r,Y)= eY-fr where e and f are positive constants.B) What are the effects of a large s..
Determine elasticities for every single variable in the equation (ignore the constant). Interpret your answers (say what the elasticity means). What would be the effect of a $5,000 increase in the competitor's advertising expenditure?
Suppose that a business has developed a very high-quality product and operates more efficiently in producing that product than any other potential competitor.
Because the structure of the personal income tax is progressive, a larger share of income is taxed at higher rates as real income increases. Therefore, economic growth automatically results in higher taxes unless offsetting legislative action is d..
Under the maturity extension program, the Federal Reserve sold or redeemed a total of $667 billion of shorter-term Treasury securities and used the proceeds to buy longer-term Treasury securities, thereby extending the average maturity of the secu..
Carmen opens a retail store. Her sales during 1st year are $600,000, of which $30,000 has not been collected at the year end. Her purchases are $400,000.
Utilize the marginal productivity theory of labor demand to predict the impact on the firm's employment level of the following events.
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