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John has the utility function U = Min{x,y}. The price of x is 1, the price of y is 1, and his income is 50. a) Find John’s optimal bundle. b) Suppose now there is a discount for the first 20 units of x John buys such that px=0.5 for those first 20 units. For additional units, John pays the regular price px=1. Draw the new budget constraint. c) Find the optimal bundle in the new situation described in b.
q1. why does a reduction in taxes have a smaller multiplier effect than an increase in government spending of an equal
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Explain how to measure the price elasticity of demand and supply and the cross-elasticity income elasticity of demand? Explain the elasticity of supply for gasoline?
What is the relationship between a country’s political/economic environment and risk? What about corruption? Please provide examples to support your post!
q. i would like you to read up on the following iposa. tesla motors tsla - 12910b. google goog - 4292004go to the sec
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Explain how would each of these traps impact the production possibilities frontier.
Suppose that the Federal Minimum wage was recently increased from $7.25/hour to $9.00/hour. What impact do you think that will have on income inequality in the United States? Will those at the bottom of the economic ladder start catching up to those ..
Discuss the power of compound interest and why compounding makes it important for people to save and invest for retirement early in their working life rather than waiting until they are close to retirement.
Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 83 - 2PX. Suppose the government imposes a price floor of $36, and agrees to purchase any and all units consumers do not buy at the floor price of $36 per unit
Elucidate how much they can accumulate over 25 yrs if they move the money into a money market mutual fund earning 5 percent.
Fiscal stimulus to aid recovery from a recession will be most effective in the long run if______________
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