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Suppose Alan’s preferences are described by the utility function:
U(x, y) = ln(x) + 2ln(y)
a. Find Alan’s MRS.
b. Find the equation for Alan’s indifference curve through the bundle (3, 6).
expected profit from machine decreases. Rental cost/user cost of capital will decrease when: real interest rate falls. This fully anticipated monetary expansion will cause which of following to occur.
Identify whether all the elements of negligence are present and, if so, who or what entity will be sued successfully:
Madelyn owns a small pottery factory. She can make 1,000 pieces of pottery every year also sell them.
Suppose that the market for polo shirts is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
Explain the liberal perspective on markets and the state with specific reference to the Keynes/Hayek debate. Why are the differences between them vital for understanding contemporary international political economy?
The Bureau of Economic Analysis and access the BEA interactively by selecting "National Accounts" and then "National Income and Product Account Tables." Select "Frequently Requested NIPA Tables," and find Table 1.1.1 on GDP.
While the population variances are unknown, we will assume they are equal.
Modeling what is a Market. In modern usage, a commodity is anything of use that is available for purchase and sale in standardized form. Participants: Who trades with whom
A proximity sensor attached to the tip of an endoscope could reduce risks during eye surgery by alerting the surgeon to the location of critical retinal tissue. A certain eye surgeon expects that by using this technology, he will avoid lawsuits of $0..
Why do price gouging laws often fail to work?
How do the “rules of the game” help determine who will be poor and who will not? (Hint: How did the Civil Rights Act of 1964, which forbade discrimination on the basis of race, likely affect the incomes of African Americans compared to the incomes of..
With an interest rate of 10 percent this person uses $100 current income along with an $80 bank loan to finance $60 of education. Explain how this individual should respond if interest rate increases. Discuss income and substitution effects.
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