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1. Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1.
2) If Kath buys only pizza, how many can she buy?
3) If Kath were to buy 10 slices of pizza, how many cans of coke can be bought with the income left over? If she then consumes one less pizza (from 10 to 9), how many more cans of coke can be bought?
4) Formulate the intercept-slope equation of Kath’s budget line.
5) Graph Kath’s budget line.
6) Assume that, other things being equal, pizza now costs $2 each. Precisely explain the effect on the opportunity cost of pizza.
The money, or financial, multiplier is equal to 1/ the reserve requirement, that is, Mk = 1/RR. Assume that RR = 20%. What is Mk? Now assume that the reserve requirement is lowered to 10%. What is the new Mk? What would happen to Mk if the RR were ra..
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ture capitalists provide funds to finance new companies (start-ups), usually in return for a share of the firm’s initial profits (if any). Of course, venture capitalists look to back experienced entrepreneurs with strong products (or at least product..
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Illustrate what marketplace structure is more beneficial for Wonks to operate in also will this be the same marketplace structure which will benefit consumers.
Describe briefly one trade topic identified by the WTO on the website. And, what did you learn from the Web site about the WTO.
Using the figure below, answer the following: a) What rate of output maximizes profits? b) What is MR at the rate of output? What is price? c) If output is increased beyond that point, what is the relationship of MC to MR? How will this affect total ..
The Federal Open Market Committee directive is a
Explain why airlines would be a good example of an oligopoly market? Analyze why airlines have to watch each other when they make pricing decisions?
What macro environmental trends and internal factors should Best Buy consider in developing new strategies? What actions might Best Buy take as a result?
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