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Amaranda and Bartolo consume only two goods, X and Y. They can trade only with each other and there is no production. The total endowment of good X equals the total endowment of good Y. Amaranda's utility function is U(xA, yA) = max{xA, yA} and Bartolo's utility function is U(xB, yB) = max{xB, yB}. In an Edgeworth box for Amaranda and Bartolo, the set of Pareto optimal allocations is?
Given the elasticities in the above question and assuming that higher gasoline taxes would not shift either the SUV supply curve or the hybrid supply curve, explain how higher gasoline taxes would affect the equilibrium price and quantity of SUV's..
Assuming a linear demand relationship determine the demand equation for cigarettes. Show all your calculations. Determine the nature of the Return to Scale as exhibited by the above production function.
In a speech in late 2011, President Obama argued that: "Probably the single greatest cause of the financial crisis and this brutal recession has been the housing bubble that burst four years ago". What did President Obama mean by the "housing bub..
Could you help me by answering in paragraphs and also can you provide me the sources and how to locate the article.
Your company is considering an investment project that will generate after-tax cash flows of $1,000 per year for the next three years (and then be scrapped, with no salvage value).
What price and quantity will the monopolist produce at if marginal cost is a constant$4 ? Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor
Illustrate what is the efficiency factor. Elucidate these factors in terms of the production possibilities curve.
If the income tax base were broadened by eliminating these deductions, tax rates could be lowered, while raising the same amount of tax revenue. For each of these deductions, what would you expect the likely effect on taxpayer behavior to be
Using a spreadsheet program or a calculator, solve Tracy's problem of how often to go to the ATM when the nominal interest rate on her bank account is 10%, she spends $30 each day, it costs her $0.50 each time she uses the ATM,
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
Assume that, from an initial consumer equilibrium position, price of good X falls while the price of good Y remains the same.
Assume NJ government decides to impose a $1,000 per student tax on colleges Every college has to pay $1,000 for each student enrolled.
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