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In general, explain the connection between a Happiness or Utility function that exhibits Diminishing Marginal Utility or Happiness, on the one hand, and risk-aversion, on the other.
In developing countries, as average wage levels rise with the country’s growth it is often observed that: the labor force participation rate of adults rises but. How do labor economists explain these empirical facts?
Reflect on your performance as a leader and a follower. What do you know about these different roles now that you didn't before? How might you improve your own actions to be a better team mate?
Suppose there are two spice-producing firms, and each can set up one trading post. Illustrate where would they set up trading posts and what prices would they charge.
What will happen to Jill's consumption in first period when interest rate increases. Is Jill better off or worse off than before interest rate increase.
Suppose there are 100 identical firms in the perfectly competitive note-card industry. Each firm has a short-run total cost curve of the form: ST C = 0.2q^2 + 4q + 10 and MC = 0.4q + 4. Calculate the firm’s short-run supply curve with q (the number o..
Domar properties plc have a site covering 20,000 meters square on which they wanted to build a mixed estate of 2- & 4-bedroom houses. The 2-bedroom houses will each occupy a plot of 60 meters square and will be sold at a profit of $15,000. On average..
Calculate total economic surplus under monopoly also competition. The difference is the social cost of monopoly
Draw a graph of money market equilibrium. Is the real or nominal interest rate on the axis? Explain why. Let’s say the Fed wants to lower the nominal interest rate. Use your graph to show how they do this. Explain. c. Define monetary neutrality. Expl..
Two monopolies in different markets have identical, constant marginal cost functions. (a) Suppose each faces a linear demand and the two demands are parallel. Which monopolist will have a higher Lerner index: the one whose demand is closer to the ori..
Compute what happens to the quantity of K. Your answer must include the appropriate sign. Correctly round your answer to 2 decimal places. Do NOT include the percent sign as part of your answer.
q1. as long as firms are price takers in the labour market it doesnt matter if firms are monopolists in the output
Compute the real GDP per person for this nation in 2001, in 2000 euros per person. Round your answer to the nearest euro.
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