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Suppose a consumer has preferences over two goods that can be represented by the quasi-linear utility function The marginal utilities area) Is the assumption that more is better satisfied for both goods?b) Does the marginal utility of diminish, remain constant, or increase as the consumer buys more ? Explain.c) What is the expression for ?d) Is the diminishing, constant, or increasing as the consumer substitutes more for along an indifference curve?e) On a graph with on the horizontal axis and on the vertical axis, draw a typical indifference curve (it need not be exactly to scale, but it should accurately reflect whether there is a diminishing ). Indicate on your graph whether the indifference curve will intersect either or both axes.f) Show that the slope of every indifference curve will be the same when What is the value of that slope?
If instead local ordinances granted the households the right to be free from the pollution, could an efficient outcome be achieved by voluntary exchanges between the households and the O&Gs Would the households be better off or worse off than if t..
Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix
Characterize each of the following statements as true or false, and explain your answer.
Elucidate how managers can reduce their firm's financing cost.
Relate to the previous task also define for both examples the current market situation - Surplus or Shortage.
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area How does the assignment of property rights af..
How do you explain and predict hospital behaviors if using the utility-maximizing
Illustrate what additional economic questions might you be able to study that you wouldn't with a traditional brick and mortar retailer.
Further assume that in a good year the artist earns $50,000 and that in a bad year she earns $30,000. calculate the artist's average propensity to consume on average.
Get price level stability under these conditions the government should:
Citrus Speculation and Forecasting, Inc., has been recruited by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below.
Show the results of a Fiscal Policy action that will bring this economy to full employment level of Real GDP. Explain the effect on the fiscal budget and show the effect on the Money Market and the Investment Market.
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