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In a perfectly competitive market, some people have a positive marginal rate of time preference (MRTP), and others have a negative MRTP. Define MRTP (positive and negative) and explain how the utility maximizing MRTP will be determined in this perfectly competitive market.
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Consider an economy where, consumer's utility function is given as U(C,L)=C-(1/2)L2 . where C is consumption and L is labor. The production technology is Y=(1.6)L-(1/2)L2. The turnover cost per labor is (0.36)/(w/p)
When economists are sketching examples of a supply or demand curve that is close to horizontal, they refer to that demand or supply curve as ____________.
suppose that there are two countries x and y that differ in both their rates of investment and their population growth
“Comparative advantage will benefit all people because everyone has a comparative advantage in something. Therefore, trade based on comparative advantage should be facilitated without undue government intervention”
Price elasticity of demand depends on various factors. Explain each factor with the help of an example and how how producers equilibrium is achieved with isoquants and isocost curves.
what are the cost and consequences of providing the subidies?
A firm's target capital structure consists of 40 % debt, 5 % preferred stock, and 55 % common equity. The cost of preferred stock is 11.26%, the firm’s cost of debt is 10% and the cost of equity is 14 %. What is the firm's weighted average cost of ca..
Beachfront resorts have an inelastic supply, and automobiles havean elastic supply. Suppose that a rise in population doubles thedemand for both products (that is, the quantity demanded at eachprice is twice what it was.)
Create a formal, written contract based on the hypothetical situation - Besides including the above list and the standard elements of a contract, you are to also include the following clauses into your formal,
Dundee argues that the situation in Oklahoma City was desperate, and that Lindenwood could have tried to locate other suppliers of the lumber to meet its lumber needs. The case is tried before you, the Circuit Court of St. Charles County.
consider a market characterized by the following demand and supply conditions px 15 - 2qx and px 3 2qx. the
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