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1.Suppose that an individual allocates his or her entire budget between two goods, food and clothing. Can both goods be inferior? Explain.
2. Explain whether the following statements are true or false:
a. The marginal rate of substitution diminishes as an individual moves downward along the demand curve.
b. The level of utility increases as an individual moves downward along the demand curve.
c. Engel curves always slope upward.
Compare the political scientist's view of government and economic policymaking and the Public Choice conception of politicians, bureaucrats and special interest groups in the political process. Which do you consider to be more realistic for underst..
Think that the following entry game. Here, company B is an existing company in the market, and company A is a potential entrant. Company A must decide whether to enter the market or stay out of the market.
How does a decrease in demand for movie tickets affect equilibrium in the market for movie tickets and what is the marginal cost of producing the second car?
The currency in Great Britain is pound and the price of a particular British car is 12,000. suppose the exchange rate is 0.67 per dollar.
Why has the global capital market grown so rapidly recently? Do you expect it to continue to grow and what are the risks that might be associated with investing in the Global Capital Market?
If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions Are stocks of produ..
All of the questions in this Part refer to the market for gasoline. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Huge new crude oil reserves are discovered in th..
Suppose your parking lot has two different customers who use it at two times. Daily commuters use it during the daytime, adnsports fans use it at different times to park at sporting events.
Is the market for coffee perfectly competitive and does the coffee market meet all six conditions of a perfectly competitive market?
There's quite a bit to be said about face-to-face interviewing for sure. But, there's also some drawbacks and you named two major ones: cost consideration and time spent (not to mention, manpower and location). what's one benefit of collecting da..
Pick two similar small businesses in the same industry with which you are familiar, one successful and one not so successful. Describe them in a post, and compare and contrast these businesses. What is the difference in management style between the..
The impact of Alfred Marshall on economics has been profound; write a short biography (1 page) with sources that outlines his contributions to the field.
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