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With the per-unit prices of broccoli (b) and pork rinds (r) equal to $2 and $1, a consumer, George, with an income of $1000 purchases 400R and 300B. At that point, the consumers MRS = 2r/1b. Does this man that george would be just as weel off consuming 200R and 400b?
The owner-manager of Good Guys Enterprises obtains ulility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures.
Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and the price in the market for pizza.
Assuming the company will remain a "going concern" indefinitely and that the interest rate will remain constant at 10 percent, at what constant rate does the owner believe that profits will grow?
RKT corporation is a publisher of Economics books. The demand function for its books is given by the equation Qx = 12000 - 5000 Px + 5y + 500 Pc where Px is the price charged for RKT's boks, y is income per capita and Pi is the price of books from co..
The hair stylist, LTD., is popular-priced hairstyling salon in College Park, Maryland. Given large number of competitors, the fact that stylist routinely tailor services to meet customer needs, and the lack of entry barriers, it is reasonable to s..
Which is the considered a cause of inflation. Producers raise prices to meet higher costs,There is not enough money in the economy or else.
Describe an example you are familiar with in which a technological innovation led to an improvement in productivity. What was the effect on the cost of doing business or activity in which this technology was employed?
What quantity should Titan produce to maximize total revenue and what is Titan's fixed cost? How do Titan's marginal costs behave as output increases?
College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing.what is the opportunity cost of taking such a job.
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
Assuming that banks used all their excess reserves to support an increase in the volume of bank lending, by how much would bank lending expand if the Fed undertook the policy action that was your answer to the question above.
On a diagram, draw the marginal cost curves for the two factories, the average and marginal revenue curves, and the total marginal cost curve (i.e., the marginal cost of producing Q = Q1 + Q2)" Indicate the profit-maximizing output for each factory, ..
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