Explain how might knowing this affect you as the manager

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Q. Economists look at the differences between the short run and the long run in macroeconomics. How might knowing this affect you as the manager of a large firm?

Q. The preferences of an individual are represented by the following utility function:

U(x,y)= ln(x)+ 2y

a) Determine if x and y are gross substitutes or gross complements.

b) Determine if x and y are net substitutes or net complements.

Reference no: EM1361042

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