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If you have the utility function U(x,y) = min{3x + y, 4y}. Where x is measured on the horizontal axis and y is on the vertical axis. How would you figure out what the indifference curve consists of?
assume the following cost data are for a purely competitive
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
In what condition will a perfectly competitive firm that incurs economic losses choose to produce rather than shut down in the short run? Why will the firm do so (c) Should a firm produce at an output level at which long-run average cost is minimiz..
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue Continue producing at the current output level
There are literally several elected officials across the U.S. at the local, state, and national levels. The 2-major political parties remain as important to election and reelection of public officials today as ever before.
select the most recent statement what action did the fed take with respect to the target fed funds rate?a.what can you
Other things being equal, a rise in a country's terms of trade increases its welfare. What would happen if we relax the ceteris paribus assumption, and allow for the law of demand to operate internationally.
Health care. This, of course, is a huge economic issue now with the attempted startup of Obama care. In your analysis here do not focus on the software issues. Those are technical problems and, granted, the system failed two weeks before releas..
he most recent studies of lifetime medical costs of treating AIDS? a)have shown a significant increase in the estimates due to earlier diagnosis b)have shown a significant increase due to the use of new drugs including protease inhibitors
The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return) in the n..
A growing number of businesses-including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains-are feeling the heat from government, the press, and society at large for encouraging harmful consumer..
Many suppliers experience economies of scale as output expands, which implies that long-run average costs are falling. At very high levels of production, however, many firms are likely to experience diseconomies of scale.
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