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Ambrose's utility is U(x lowercase 1, x lowercase 2= 4x^1/2 lowercase 1 + x lowercase 2. If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $238, how many units of nuts will Ambrose choose?
Answer is 196.
Please show me how this was arrived at?
Why do prices in monopolistic competitive markets remain above the prices that would exist in perfectly competitive markets even in the long run after entry has eliminated above normal profits?
What is the dominant strategy for Warner Brothers and what is the dominant strategy for Disney?
With respect to resource allocation, the interests of the seller and of society coincide in a purely competitive market but conflict in a monopolized market.
Econ 301 Assignment, Find at least three other variables that may affect the return of equity of your choice
Discuss current and proposed real property tax reforms. Do you think that the real property tax is regressive and a burden on lower-income people?
Given the recent events in the US Airways and American Airlines merger, one has to wonder, is the airline industry monopolistic? Which is worse, monopolies or competition? Describe your answer.
How family panning policies would change the steady state in a Solow model. A. Draw the initial diagram. B. Suppose that the family planning policies lowered the fertility rate. Which curve or curves will this shift?
i need this done in two days is a course work i have not had time to do and is due in two days and i am sure you may
international trade is a complex area of study. effects of policies currencies tariffs trading arrangement and other
suppose the market interest rate is 10 percent. Would you be willing to lend $10,000 if you were guaranteed to receive $1,000 at the end of each of the next 12 years plus a $5,000 payment 15 years from now? Why or Why not?
The upper graph is for perfectly competitive firm. The lower graph is for the monoploist. Employ the graphs to answer the following questions: What is the firm's Total Revenue?
A firm facing a downward sloping demand curve is producing a level of output at which price is $7, marginal revenue is $5, and average total cost, which is at its minimum value, is $3. In order to maximize profit, the firm should
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