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Melissa's utility function is U = mm (L, E/2, 2T) where L are lattes, E are eggs, and T is toast. She is on a diet and her calorie constraint for breakfast is Cbar = 600 calories. Suppose lattes have 300 calories, eggs have 100 calories, and toast also has 100 calories per serving. What type of utility function is this? Are these good complements, substitutes, or perfect substitutes? If she has to eat only whole servings, what will she have for breakfast, and how many calories will she consume? If she can eat partial servings, how would your answer differ?
Between two production technologies firm can choose a new product line. If it installs expertise 1, it's annually costs.
Calculate the equilibrium buyers' also sellers' price with no sales tax also then with the 20% tax Supposed above.
Microsoft appears to have a monopoly with over 90 %of the personal computer operating market. Why then would it not be charging a monopoly price
By what factor does this firm mark up its price over marginal cost? c. Do you think this firm enjoys much market power? Explain.
Contraction GAP, Illustrate what does a Contraction Gap imply about the actual rate of unemployment relative to the natural rate.
How will the unemployment rate during the current period compare with the natural rate of unemployment.
What does Friedman mean when he says the Earth is becomming "hot, flat, and crowded?" Describe three of the key problems that Friedman identifies in the book and explin why they re important.
the probability of damage between $10,000 and $25,000 to be.12 If the company wants to make a profit of $200 above the expected cots, what should be the price of the policy?
Elucidate how many additional watches can be produced by an extra hour of labor.
Derive Chenyu's consumption function in terms of her annual income Y and initial wealth W according to the life-cycle model.
Illustrate what additional information is needed for you to be able to compute the price elasticity of demand for DVD players.
How does monetary policy affect the US production and employment? How has the US current economic situation affected you and your family.
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