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Arthur spends his income on pie and whipped cream. He views pie as a good but is neutral about cream, in that he doesn’t care if he consumes it or not. Sofia, on the other hand, will consume pie only with whipped cream. Show Arthur and Sofia’s preference maps. What are their views on the two goods. ii. (1) Using diagrams and appropriate assumptions, explain why two indifference curves cannot intersect. b. Calculate the MRS of the following utility functions. Are they diminishing? Explain.
Why do governments raise taxes on cigarettes and alcohol to raise government revenues? What changes do you make to your demand for gasoline when the prices start to climb up? Would you want to own a business that sells price-elastic products or price..
What does the Coase Theorem say about the two remedies when there are no transaction costs - What is the efficient outcome - for the factory to shut down, to run silently, or to run noisily?
What is organizational structure and what are organizational controls? What are the differences between strategic controls and financial controls? What is the importance of these differences?
Assuming that the budget stays the same except for the interest on the debt for 10 years, illustrate what will be the accumulated debt. What will the size of the budget be after 10 years.
In year 2013, the population of island I is 210, 000 people, of which 150,000 are aged 16 or older. Of this 150,000 people, 100,000 have jobs (50,000 do not). 30,000 are separated but actively seeking employment and there are 20, 000 who have given u..
You are a pricing analyst for QuantCrunch Corporation, a company that sells a statistical software package. To date, you only have one client. A recent internal study reveals that this client’s demand for your software is Q=300-0.20P and that it woul..
Which of the following is the correct name for the idea that certain firms prefer government regulation because regulation shields them from the pressures of competition and, in effect, guarantees them a regulated profit.
You use money just about every day. What is money and what functions does it perform? How is the supply of money measured? Who influences how much liquidity in created or reduced in the U.S. economy?
What are the dimensions of sustainable community development. Name four and explain their interrelatedness. What are the three aspects or roles of the biosphere reserves? In your own opinion, which one of the three roles are the most important.
q1. business is booming at a local fast food restaurant. it is contemplating adding a new grill and machine of french
Many people believe that using plant-derived fuels or biofuels to power combustion engines is a relatively new and innovative concept.
Analyze the collection of data by patient access personnel and its importance to the billing and collection process. Be sure to address the importance of exceptional customer service. Analyze the strategies used to negotiate new managed care contract..
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