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Julies utility function from food and clothing is U (F;C) = FC; here income, to be spent on food and clothing, is $12. Suppose that food costs $1 a unit for the rest 5 units bought; every additional unit of food (beyond 5) costs $2. Clothing costs $2 per unit always. Find Julies optimal basket of consumption.
Many people believe that using plant-derived fuels or biofuels to power combustion engines is a relatively new and innovative concept.
Explain a series of oil related inventions between 1910 - 1945. Explain the process how either Germany or Japan developed the oil industry through the end of World War II. Explain the process of from using the Rule of Capture to Price stability of th..
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantages were used in your simulation.
when a cold snap hits florida, the price of orange juice rises in the supermarkets throughout the country. Illustrate the supply and demand table for this scenario.
You continue to use an old machine tool that was bought four years ago for $15,000. It has been fully depreciated but can be sold today for $2,000. The existing (old) machine tool can be sold today for $2,000. You purchase a brand new machine tool at..
When inflation occurs some economic agents gain and some lose. Who would gain and lose if deflation occurs? Why? What will happen to interest rates and investment according to Keynesian and Classical/ Monetarist theories? Is inflation still a possibl..
Illustrate what is the underlying factor which seems to help clarify whether or not the economy is self-adjusting.
Describe three types of physician remuneration schemes and comment on physician incentives under each scheme. For each scheme, summarize the evidence regarding physician behaviour.
The minimum wage in California is currently $9.00 per hour. Suppose that in the market for unskilled labor, there is a surplus of labor at that price because the $9.00/hour is higher than the equilibrium wage. using a supply and demand graph, illustr..
American firms commonly invest in securities overseas. Analyze the situation in which firms anticipate a currently weak dollar to strengthen in the near term. How would you expect this assessment to change American firms’ level of overseas investment..
"The Present and the Future of Religion" Please respond to the following and include any sources you use:
Compute demand of price elasticity of for natural gas sold to the US.
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