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Evaluate why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin?2)Suppose a consumer can allocate his income between any number of goods. Does it make sense for a consumer to buy that quantity of any one good that will maximize his utility for that good?
Explain how does the existence of money reduce the costs of making transactions relative to a society based entirely on barter.
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q 100,000 -1.25P, illustrate what price should you charge in order to maximize revenues from sales of the Highlander.
Compute the marginal tax rate as income rises from $100,000 to $200,000. Compute the corresponding marginal tax rates for the regressive and progressive tax systems.
By signing a trade agreement illustrate what does this imply as regards international trade theory of the Ricordian model.
John Smith expected income in period two is unchanged. Illustrate graphically explain how this job loss affects John's consumption in periods one and two.
Starting with the estimated demand function for Chevrolets given in problem suppose the average value of the independent variables
Compute and indicate in diagram the level of domestic consumption, domestic production and imports of commodity Y at free trade price.
Explicates how every of these public polices involves demand for cigarettes by teenagers.
Analyze how a bartender would know which the price of an exotic drink was too low or too high. Provide adequate conceptual justifications.
For several months before your vacation trip to germany,you fiind out that the exchange rate for the peso has increased relative to the euro. are you pleased or saddened explain.
Amend the diagram and use similar algebra to figure out Illustrate what happens again.
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