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Kyra's utility function for two commodities is ( 1, 2)= 12 2. She earns income =180 and pays a price 1=1 for commodity 1 and price 2=3 for commodity 2. Using appropriate mathematical techniques find her utility maximising bundle.
What is the cost of using this machinery for one year? How would your answer be different if the machinery had not yet been purchased?
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-axis..
assume the demand curve faced by a monopolist is given by the following tableprice demand total revenue marginal
Marc has a budget of $20 a month to spend on root beer and DVDs. The price of root beer is $5 a bottle, and the price of a DVD is $10.
The three people in our model all have the same preferences, but each has a different income. One of them has an income of $100, another an income of $1,000, and the third has an income of $10,000. The price of water1 is $1 and the price of the compo..
Name five basic functionalities a Web server should provide. What are some of the policies that e-commerce businesses must develop before launching a site, and explain why must they be developed?
Explain the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions.
What price will the profit maximizing monopolist charge?
Discuss the characteristics of monopolistic competitive market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly.
Canadian minister of defence announces $9million purchase of 65 new fighter jets. Assuming that aggregate out put is demand determined and that the .f-35 jets are purchased domestically.
ECO 550- From the scenario for Katrina's Candies, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs.
Analyze the effects of government intervention in the marketplace. Analyze the theory of firm behaviour.
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