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Part A:
Using the economist's model of choice, explain the motivation for two decisions you have made in the past year.
Part B:
Assuming that the law of diminishing marginal utility does not hold, how differently do you expect consumers to behave.
Calculate how the hurricane affects the income of each worker and of each remaining orchard owner. What happens to the income of Ectenia as a whole?
The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell for the same price. Consider the previous graph. Suppose that the price of a sedan decreases from $ 26000..
In Japan, potential GDP is 600 trillion yen (¥) and the table below shows Japan’s aggregate demand and short-run aggregate supply schedule. Draw a graph of the aggregate demand curve and the short-run aggregate supply curve. What is the short-run equ..
Assume that the United States imposes an import quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of import quotas, the equilibrium price of shoes in the United States will most likely _____, and the equi..
If you have a credit card with 14.4% APR. What is your monthly interest rate and what is your annual effective interest rate? If you have an outstanding balance of $1,800 on that card what would be the balance if you skipped 4 months payments (ignore..
What do you believe should be the top spending priorities of the federal government? Do you believe the federal government has a responsibility in regard to health needs of citizens or do you believe that this is an issue better left to the various s..
A demand curve and supply curve for lawnmowers are given respectively as follows: QD = 72 ? 2P + 2MQS = 2P. Where M represents consumer income. Suppose that last year, consumer income was M = $150.
The economy has two sides. One side is the aggregate demand side. Elucidate the relationship between the price level and the quantity demanded of Real GDP.
Elucidate how important is a rapidly expanding domestic market in Alibaba.com's strategic assessment
PPOs and HMOs reduce the overconsumption of health care by A. charging on a fee-for-service basis and reducing administrative costs. B. reducing administrative costs and denying expensive services. C. reducing administrative costs and providing preve..
Summarize it using your own words (Two typed paragraphs; each paragraph must have three sentences. No Plagiarism!). 2. In which year and quarter (Year-Quarter) did two regional markets (Metropolitan Statistical Areas) experience the same competitors’..
What is the six-month forward price of the stock, assuming interest calculations are on a continuously-compounded basis?
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