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Pete's utility function is u(x1, x2) = sqrt (x1) + x2
Suppose the price of good 1 is $2, and the price of good 2 is $1. Derive Pete’s demand function for good 1 (as a function of income). Is good 1 normal for Pete? How about good 2? Plot the Engel curve for goods 1 and 2 (with income on the horizontal axis and demand on the vertical one).
Choose a country other than the country in elucidate which you currently reside elucidate which has not already been selected by another student also research the EIU country data.
What is the equilibrium price? What is the equilibrium quantity? (d.) If the market price is $5 will there be a surplus or a shortage? Of how much?
q. it is now january 1 2012 and you will need 1000 on january 1 2016 in 4 years. your bank compounds interest at an 8
q1. assume you are to specify a short-run total variable cost function for a nursing home. elucidate the variables you
q1. assume that the reserve requirement is 25 percent. if a single bank has excess reserves of 500000 explain
Should the company buy or lease the fleet of trucks that it uses to transport it's products to market?
A Chinese retailer offers to purchase running shoes for $55 per pair and tennis shoes for $55 per pair for distribution in China. Should the shoe company sell any shoes to the Chinese retailer?
What are macroeconomic factors and are they useful for economic forecasting? What are economic indicators? Are any of them useful for forecasting economic growth?
Explain why marginal cost curves slope downward as firms increase their output from "0”; but, eventually, as output continues to expand, marginal cost curves slope upward and ultimately become vertical.
At a product price of $52, will this firm produce in the short run. Illustrate what will profit or loss be. Complete the following short-run supply schedule for this firm.
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate? b) Explain what is meant by a built-in stabilizer and give two examples.
q.frank knight has a job as a sales manager earning 100000 per year and he is deciding whether to purchase a bakery
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