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Mathew has the utility function U =vXY (where Y represents apples and X represents hot dogs), income of $20, and is deciding how to allocate that income between apples ($1) and hot dogs ($1).
Mathew's utility function implies that the marginal utility of apples is 0.5vX/Y and the marginal utility of hotdogs is 0.5vY/X. How many apples and hotdogs will Mathew buy?
Write a 750-word essay on how the Environmental Protection Agency's policies impact business in the United States.
How big will that budget have to be before he would spend a $1 buying a first cup of coffee?
A monopoly has demand given through P=20,000-25Q, and costs given through C(Q)=100Q+25Q2. Find the profit maximizing level of price and output.
Assume that both the equilibrium price and quantity of golf clubs rise. Which of the following explanations would best explain this outcome?
Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean , and then thoroughly analyze each situation to answer the following q..
Discuss how do reducing tax policies on electricity and imported luxury cars in short run affect firm revenue, consumer expenditure and government tax revenue?
Assume that the government decreases spending by one hundred billion dollar. What happens to aggregate demand and discuss the differences between fixed and variable taxes.
Describe the welfare costs of a monopoly and discuss the regulator organizations that monitor anti-trust in America. Name these organizations and their functions.
Potato chip industry in Northwest was competitively structured and in long run competitive equilibrium; companies were receiving a normal rate of return and were competing in a monopolistically competitive market structure.
Discuss and explain japans slow economic growth over the past few decades and the projection that this will continue.
Show graphically how regulating the value of a monopolist can both increase quantity and lower price.
Use supply or demand graphs to examine shifts in supply and demand and resulting changes in market equilibrium in the condition below.
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