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Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?
Consider the competitive equilibrium for an exchange economy. If the endowment of each person increases by 10% for each good, everyone is better off at the new competitive equilibrium since everyone consumes more of each good.
The slope of the Phillips curve: Draw a graph with a steep Phillips curve and a graph with a gently sloped Phillips curve. Explain how the two economies respond differently to a boom and to a slump. What are some factors that might influenced the slo..
Discuss the difference between business requirements and design requirements in network upgrading. Please give four examples of each.
Do you think the attitudes and bargaining behaviors of the participants in collective bargaining negotiations are more or less important in the final outcome than economic conditions and factors? Why?
Assume the average whole price of a wireless phone is curently $50. Do you think this company should enter the market.
When converting from an old to a new system, we can use a phased implementation approach.
A no production economy has 2 consumers (A and B) who each consume two different goods (x and y). Person A is endowed with (120,270) and has a utility function Ua(Xa,Ya)=X^(2/3)Y^(1/3) . Person B is endowed with (480,180) and has a utility function U..
The profitability of the leading cola syrup manufacturers, PepsiCo and Coca Cola, and of the bottlers in the cola business is different. PepsiCo and Coca Cola enjoy 81 operating profit as a percentage of sales; bottlers experience only 15 operatin..
You have been hired as a Financial Advisor to review Charles and Susan’s retirement goals and propose recommendations on how to optimize their savings. Write recommendations based on the answers for 1-7 or propose a new plan on how the Smiths can rea..
Graph the ppf. calculate the oppurtunity cost of guns in terms of butter and that of butter in terms of guns. If you observed this economy producing 700 guns and 3 tons of butter, what would you conclued about how this economy is solving the 'how' pr..
There are 3 firms producing mercury emissions, with heterogeneous marginal abatement costs: Suppose the EPA adopts a command-and-control regulation permitting each firm to emit just 20 tons per year. i) Calculate the cost of compliance for each of th..
The best answers eliminate the puzzle concisely. Explain the short-run effects of eliminating rent control on apartments. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtai..
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