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Q. Calculate Max's marginal utility from windsurfing at each number of hours per day. Does Max's marginal utility from windsurfing obey the principle of diminishing marginal utility?
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility?
Which does Max enjoy more: his 6th hour of windsurfing or his 6th hour of snorkeling?
a) Banks only accept coins for deposit if they are rolled inspecified amounts. Pennies, for example, are to be in rolls of 50. A Canadian bank has checked the 200 rolls of pennies they have on hand. Only 12 of the rolls contained all Canadian pennies: the rest all had at least one American penny. Altogetherin 200 rolls, about how many American pennies are there?
b) What is the median number of American pennies in a roll?
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Someone proposes to buy the farm from you for $1 million. Would you make more by selling the farm or keeping it
Conditions that exist when they shut down their operations and the conditions that exist when they resume their operations.
Find the equilibrium price and quantity after the shift of the demand curve.
Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run.
Steps that a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
Ordinary least- squares method or the two- satge least squares method for estimating industry demand for rutabagas.
What if the pollution invades Baker's home and harms her health
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Can you find a Nash equilibrium in pure strategies that is not efficient. In some legislatures, proposals for modifications of the law are formulated by committees.
Clarke's workers are highly skilled artisans with a great deal of job mobility. What impact would the wage increase have upon the firm's employment.
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