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John always uses exactly two pats of jam (J) on each piece of toast (T). if toast costs $0.25/slice and jam costs $0.10/pat, find John's (i) budget constraint (the equation) and (ii) best affordable bundle, if he has $18/week to spend on toasts and butter. show your work.
Illustrate what do you think are the defining characters of a science. does the study of the economy have these characteristics.
What happens to the LM curve during a liquidity trap, where interest rates are sufficiently negative to the point that they surpass the cost of holding cash. Am i correct in assuming that it would cease to continue horizontally as it is imposibble to..
Suppose 4 neighboring farmers want irrigation and flood control systems. Each farmer can install one system for $15,000, and is willing to do so. If 2 farmers go together they can build a joint system for $25,000, and 3 can build one system for a tot..
Assume that the equilibrium price of DVD players increases and the equilibrium quantity increases. Illustrate which of the following best fits the observed data.
Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures? Explain why price can be substituted for marginal revenue in the MR=MC rule when an industry is purely competitive
Suppose that crude oil extraction imposes an external cost of $84 per million barrels/day (constant marginal external cost). Plot a new graph that includes these external costs. Identify the optimal quantity and market price in the presence of the ex..
Some individuals have an inherent distrust of quantitative analysis because they think that statistics can be manipulated to provide a desired interpretation. Regression analysis pretains to knowing about an error term in the regression equation. Wha..
This question is from the book : Real Estate Development: 5th Edition by Mike E Miles. What are the five key indicators used to forecast demand for land and development? Show a regression equation with dependent and independent variables.
Illustrate scarcity, choice also prospect cost with the aid of a diagram demonstrating a production possibilities frontier
Suppose in the first five years of working for ABC Corporation Emily earns $50,000 a year after taxes, but ABC makes no yearly contribution toward a retirement plan for her. Explain and illustrate graphically (with budget lines and indifference curve..
One implication of the Lucas Critique is that
An airline is considering the purchase of an Airbus A-320neo which offers improved fuel efficiency over the previous generation of narrow-body aircraft. The finance department estimates the aircraft will generate a positive net cash flow of $6 millio..
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