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Draw indifference curves to represent the following types of consumer preferences:
a. I like both peanut butter and jelly and always get the same additional satisfaction from an ounce of peanut butter as I do from 2 ounces of jelly.
b. I like peanut butter but neither like or dislike jelly
c. I like peanut butter but dislike jelly
d. I like peanut butter and jelly but I only want 2 ounces of peanut butter for every ounce of jelly.
elucidate how the proposed carbon tax for australia would help reduce negative externalities, pollution levels in australia.
A bill was recently introduced in the US Congress to limit greenhouse gas emissions from electricity generation and require electricity producers to generate a minimum percentage of power using renewable fuels, with some emission rights to be auction..
As people spend more and more time online, Click-to-Accept agreements have become increasingly common. Do people really read these types of agreements? Is it fair to hold consumers to these terms? Find an example of a case where a court did not enfor..
Due to an expanded growth in a city, new waste capacity is needed. A new truck is evaluated to replace the presently owned. The interest rate is 8%.
If the code is an exemplar of good coding, explain what leads you to that conclusion. Be specific. If the code needs improvement, include a rewritten version of the code, in which you apply one of the methods described above to improve the program...
Price outcomes of the 5 oligopoly models differ substantially. Which models produces the lowest and highest total profits (all firms combined)? What are the predicted prices? Provide aviation industry examples of routes or markets that might approxim..
compute the breackeven output quantities for each alternative. What is the difference between movements along IS and LM curves and shifts of the entire curves.
Suppose you make an annual contribution of $100 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. Wh..
What can you say about the price elasticity of demand for DVD players. What will this price reduction necessarily lead to an increase in profits for DVD player manufacturers.
In the US, doctors get reimbursement based on the quantity of procedures they perform. How might this relate to the observed increase in the medical care expenditures and what type of problems might this reimbursement structure lead to?? (In health i..
In the argument for why perfect competition is allocatively efficient, the price that people are willing to pay represents the gains to society and the marginal cost to the firm represents the costs to society. Can you think of some social costs or i..
Explain and derive the relationship between Demand, Elasticity of Demand, Total Revenue (TR), and Marginal Revenue (MR).
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