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Mandy drinks cranberry juice and vodka in fixed proportions. Her utility function is of the following form:
U =min{ 93 Cranberry Juice, 32 Vodka}
The price of vodka is $67 per ounce, the price of cranberry juice is $27 per ounce and her income is $2,738.
What is Mandy's optimal consumption amount of vodka?
Assume a cost improvement project has only a first cost of $100,000 and a monthly net savings, M. There is no salvage value.
What are the liberal, conservative and radical reviews of labor unions? What does each group believe is the future of unions? With which group do you agree and why?
Lauren's salary decreases from $34,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 20 to 19. Use the midpoint method to calculate the income elasticity of demand for new outfits.
Twenty-five years ago, coffee was a commodity product. Coffee brands such as Maxwell House (“good to the last drop”) and Folger’s advertised on television, but the difference between the brands was minimal.
The stocks of Walker Industries have gained considerably following the announcement of a merger with Vicenza Inc. Walker Industries is a family-owned firm that has been in the diamond jewelry business for decades. Vicenza is a luxury jewelry company ..
Duffy derives utility from only two goods: milk and cookies. He only consumes milk and cookies in fixed proportions: he likes to have 4 cookies with each glass of milk. Determine and graph Duffy’s budget constraint (put milk on the horizontal axis). ..
Bob’s utility function is given by . 0.5 0.5 U = X Y Bob earns $400. The price of X is $2 and the price of Y is $4. a. What is Bob’s optimal consumption bundle before any price change? b. Suppose the price of X increases to $4. What does Bob consume ..
a tax imposed on imports is calleda tariffa quotaa comparative advantagean excise taxquestion 2this result proposes
The Body Shop, Timberland, and Patagonia behave in environmentally responsible ways that differentiate them from competitors, build consumer preference, and achieve notable sales and profit gains. This is an example of ________.
The Rule of 70 applies in any growth rate application. Let’s say you have $1000 in savings and you have three alternatives for investing these funds.
q.suppose that the world consists of only two countries a and b of relatively equal sizes. the world interest rate in
How often do you expect the mpg of a vehicle to be 17.2 mpg or lower? Show work like shown in the module with the function notation, finding the z-score.
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