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Consider the utility function \(U(x,y) = y\sqrt{x}\)
a)Does the consumer believe that more is better for each good?
b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
Want the duration of its assets to be greater than the duration of its liabilities - a positive duration gap.Want the duration of its assets to be greater than the duration of its liabilities - a negative duration gap.
A firm uses two plants (A and B) to produce the product. The plant's marginal cost functions are given by the following equations:
Microeconomics is the study of economics at the individual or micro level. One of the most well known microeconomic models is the production possibilities frontier,
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
If an excise tax is imposed on a commodity in order to raise revenue for the government or to reduce the consumption of the good, then what is the relevance of the price elasticity of demand in determining which of the goals is likely to be most ..
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days for each year. It has orders for about 12,000 flashing lights for each year and has the ability of prod..
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
Each class member shall prepare a written report concerning the performance of a company of their choice and based upon observation period, offer forecast of companies' future sales and revenue
Determine how the following situations will affect the demand curve for ipods.
Define scarcity and opportunity cost. What role these two concepts play in the making of business decisions? What is Marginal Analysis ? (b) Why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis ?
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