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Consider an individual whose utility function is U = X0.5Y0.5. If the individual consumes 1 unit of X and 4 units of Y, then she will experience some level of utility. If the individual instead consumes 2 units of Y, how much of good X must she consume in order to attain the level of utility associated with 1 unit of X and 4 units of Y?
Refer to the Real Estate data, which reports information of homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes.
From 1978 to 2011 China's economy grew at an extremely high rate. A number of reasons have been cited as source of this growth rate. Given those reasons which economic growth model, do you think would be best in explaining the growth of China. You ca..
Elucidate how the factors determining resource demand differ from those determining product demand. Explain the meaning and significance of the fact that the demand for a resource is a derived demand. Why do resource demand curve slope downward.
This is a business law question there is now select subject for business law so I chose economic Miller, R. (2013). Fundamentals of Business Law: Describe the value of having a will or a trust.
.Compute by how much monetary policymakers mllst change the nominal money supply for the expectations of firms and workers to be realized.
Illustrate what would be the best advice to give him knowing which this is his only source of income.
Explain the meaning of monetary neutrality and illustrate graphically that there is monetary neutrality in the long run in the aggregate demand–aggregate supply model.
Suppose that Omar’s marginal utility for cups of coffee is constant at 5.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 11 for the first doughnut he eats, 10 for the second he eats, 9 for th..
Steve and Sons Solar Panels has a production function represented by Q=4KL, where the MP=4K and the MP=4L. The current wage rate(W) is $8 per hour, and the rental rate on capital is $10 per hour. In the short run, the plant's capital stock is fixed a..
Does this firm’s production function exhibit diminishing returns to labor employment? Are labor and capital complements for this firm? Explain. What is the real wage rate paid by this firm? If total factor productivity (A) is 20, how much labor (L) w..
Compare and contrast the effects of a quota and a tariff on imports. Be sure to include both short-run and long-run effects in your answer. Differentiate between the current account balance and the capital account balance.
Scarecrow Manufacturing will need to begin paying a licensing fee of $5697 at the end of year 6. Scarecrow will have to pay the licensing fee for 8 years, but the fee will decrease each year by $123. Scarecrow wants to spread out this cost so it woul..
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