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Norton and Ralph have a utility possibility frontier that is given by the following equation, UR + (UN)^2 = 100. (a) Plot the utilities possibilities frontier on a graph with UR on the vertical axis and UN on the horizontal axis. (b) Derive an equation for the slope of the utilities possibilities curve. (c) Both Ralph and Norton believe that the ideal allocation is given by maximizing an appropriate social welfare function. Ralph thinks that UR = 75, UN = 5 is the best distribution of welfare, and presents the maximization solution to a weighted-sum-of-the-utilities social welfare function that confirms this observation. What was Ralph’s social welfare function? (Hint: What is the slope of Ralph’s social welfare function?) (d) Norton, on the other hand, believes that UR = 19, UN = 9 is the best distribution of welfare. What is the social welfare function that Norton has in mind?
A bond with a face value of $4500 pays annual coupons at an interest rate of 6% per year. This bond will be redeemed at par value at the end of its 20-year life and the first interest payment is due one year from now. How much should be paid now for ..
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
If U.S. interest rates fall relative to Japanese interest rates and Japanese inflation falls relative to U.S. inflation, then the: The Federal funds rate:
How would this change the consumer and producer surplus? Suppose a price floor of $16 was imposed. How would this change the consumer and producer surplus?
q. you have been hired to manage a small manufacturing facility whose cost and production data are given in the table
Ethanol or ethyl alcohol is a motor fuel produced from sugarcane, corn or other sugar based feed stocks. In the United States, where ethanol production uses corn as feedstock, the Energy Policy Act requires that a minimum quantity of renewable fuels ..
q.point out one product that you believe is produced by a pure monopoly firm or a firm with a high degree of monopoly
Harold is going to loan Maude $50,000 using a promissory note and a mortgage. Which one is the "mortgagor"? Which one is the "mortgagee"? Why is a mortgage needed if you already have a promissory note? The word "mortgage" can be used in two different..
Why is it important to ensure Organizational ethics are communicated to stakeholder consistently? How can this be achieve? Give examples to support your arguments.
The Federal Reserve chairman acknowledged the economy was in a recession. What actions might the federal government take to give the economy a boost?
Please discuss corruption, including effects, the basic causes, and possible measures to control it. What would you like to see done and why? What steps are essential in the rich countries? What is the asset recovery movement? What encouraging events..
Output is homogenous and the demand curve is P = 448 − Q. There are two firms with identical costs given by C = q2 i where qi is the production of firm i. (a) Find the Cournot equilibrium firm outputs. (b) Find the Stackelberg equilibrium firm output..
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