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1. Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. (Milk and coffee are perfect complements here). Coffee costs $1/oz, and milk $0.5/oz. Draw his budget constraint and indifference curves and show what is his optimal consumption of coffee and milk.
2. Smith likes cashews better than almonds and likes almond better than walnuts. He likes pecans equally as macadamia nuts and prefers macadamia nuts to almonds. Assuming his preferences are transitive, which doe he prefer: (explain your answer)
a) Pecans or walnuts?
b) Macadamia nuts or cashews?
appliance store are unable to successfully compete also are driven out of business. why does Wal-Mart have a cost advantage over its competitor.
Can you detect any difficulties that the Federal Reserve System might encounter in implementing monetary policy.
determine intellectual analysis and incisive. Write down a brief essay of about one page on the impact of labor migration.
The government has decided to reduce the pollution also from now on will require a pollution permit for each ton of pollution emitted.
Describe the differences between shortages and scarcity. In answering this question you should think difference between the short run and the long run in economic analysis.
Describe elderly individuals who complain about the increasing cost of their medications have no real complaint.
Between early 2008 and the beginning of 2009, a gradual stock-market downturn and plummeting home prices generated a substantial reduction in U. S. household wealth that induced most U.S. residents to reduce their planned real spending at any given p..
A current database in education is whether teachers should be paid on a standard pay scale based solely upon their years of training and teaching experience, or whether part of their salary should be based upon their performance
Consider an economy with the production function Y = L ^(1/3). calculate the equilibrium levels of real wage, labor and output. What is the equation of the aggregate demand curve for this example? What is the price level? What is the nominal wage lev..
Assume company X deposits 100,000 in cash in Commercial Bank A. If no excess reserves exist at the time this deposit is made and the reserve ratio is 20%, Bank A, by itself, can initially increase the money supply by a maximum of?
Illustrate what is the optimal production quantity measured in thousands of bushels of Texas Citrus Company in the short run.
How much Wyandotte have to decrease the price of polyol to attain a 15% increase in the quantity sold.
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