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A consumer has income of $500. chips costs $2 , and burger costs $6 .
(a) Draw his budget constraint (put burger on the horizontal axis). What is the slope of her budget constraint?
(b) Draw Consumer’s indifference curves for chips and burger if you love chips better than the burger. Draw 4 indifference curve and use this graph to describe and explain the three properties of the indifference curves.
(c) Given the prices of burger and chips, what would be the marginal rate of substitution at the point that corresponds to the optimal consumption choice? What does the marginal rate of substitution tell us?
Which of the below transaction(s) are included in the GDP calculations for the Year of 2012?
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A physician's office expenses increase 10 percent so she decides to raise the price of office visits by that much. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice reven..
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Due to ever-accelerating technological growth, _________________ unemployment is on the rise worldwide.
how much more money will Edward repay compared with what Jorge owes (moral:you want a high FICO score)? Assume monthly compounding of interest.
Illustrate if the company has the cash necessary for the installation would you recommend the change. Illustrate if the company has to float 5,000,000php worth of noncallable bonds at 15%.
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