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Marginal Rate of Substitution
a. Consumers in Georgia pay twice as much for avocados as they do for peaches. However, avocados and peaches are the same price in California. If consumers in both states maximize utility, will the marginal rate of substitution of peaches for avocados be the same for consumers in both states? If not, which will be higher?
b. Assume Carolyn is given a bundle on her budget constraint where her MRSFC = 2. Also, assume the price of a unit of food equals $3 and the price of a unit of clothes equals $6. Should Carolyn buy more food or more clothes to maximize her utility? Why? Explain in detail.
Utilize a sustainability lens to critically analyze GDP as a measure of economic progress. (i.e. discuss how policies that use GDP as a measure of economic
Prince Sports wants to exploit a favorable trend-the dramatic growth in tennis participation. For example, a recent study by the Sporting Good Manufacturers Association notes that tennis participation in the U.S. was up 43 percent from 2000 to 200..
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Calculate consumer surplus. Shade appropriate area in graph, calculate producer surplus. Shade appropriate area in graph - Calculate total surplus
What is the expected value of the expenses for the coming year? What is the probability that the expenses for the coming year is at least $14 million? What is the probability that the expenses for the coming year is more than $15 million?
For tax depreciation the SL method with n = 10 years was used, but for book depreciation, Boyditch applied the DDB method with n = 7 years and neglected the salvage estimate. The company sold the assets today for $12,500. Compare this amount with ..
question suppose we can divide all the goods produced by an economy into two types consumption goods and capital
The price of capital, labor and materials are r, w, and m respectively. (1) In the short run, the amount of capital is fixed at k=k0. What are the conditional demand functions for labor and materials in the short run? (2) what is the short run total ..
Determine the cost-to-service percentage of sales for each customer type. Which customer is the most profitable and why?
Each individual determinant analyzed for your situation, with examples applicable to your situation (5 points each) and research (3 points each) showing current Demand data or most recent past data, except for the Expectations Determinant in wh..
On the television show Jeopardy contestants in the final round must choose some part of their winnings to bet on their answer to an upcoming question.
Please explain culture and cross-cultural risks as well as explain culture's effect on international business.
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