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Jane has 3 liters of soft drinks and 9 sandwiches. Bob, on the other hand, has 8 liters of soft drinks and 4 sandwiches. With these endowments, Jane's mar- ginal rate of substitution (MRS) of soft drinks for sandwiches is 4 and Bob's MRS is equal to 2. Draw an Edgeworth box diagram to show whether this allocation of resources is efficient. If it is, explain why. If it is not, what exchanges will make both parties better off?
Female shoppers generally value microwaves more than men and attribute greater value to the auto-defrost feature. There is little additional cost to incorporating an auto defrost feature.
explain how payoff matrices used in game theory illustrate mutual interdependence among firms in oligopolies. how can
you are employed by a hospital that has succeeded through innovation in dividing its markets into three segments each
Assume that a profit-maximizing monopolist currently produces and sells 100 units of good X at a price of $10 per unit. If average total cost and marginal cost are constant at $5 per unit, which of the following government policies will most likel..
In a gambling game a woman is paid $3 if she draws a jack or a queen and $5 if she draws a king or an ace from an ordinary deck of 52 playing cards. If she draws any other card, she loses.
why might a favorable change in the economy such as technological improvement or a decrease in the price of imported
Discuss the impact (negative and positive) that regulation/deregulation has had on the growth and/or continued growth of inter modal transportation in both countries (Europe and the United States)
Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The four market structures are monopoly, Perfect competition, oligopoly, and monopolistic competition.
In your first paragraph, reflect on what you know and expect of presidential inaugurations. What is the purpose of an inauguration ceremony, beyond just "swearing in a new president"? How does an inauguration connect to our sense of identity as Ameri..
why were the first proto-hmos formed in america? what were the original driving factors in the hmo movement? what is
If the cost of producing Newton’s Donuts is constant at $0.15 per donut, should they reduce the price and thereafter, sell more donuts (assuming profit maximization is the company’s goal)?
the demand curve for a product is given by qdx 1200 - 3px .01pz where pz 300.a. what is the own price elasticity of
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