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As a general rule, a consumer may correctly maximize satisfaction by sequencing his choices, from first to last, by choosing the one with the highest marginal utility first, the one with the second highest marginal utility second, the one with the third highest marginal utility third, ... the one with the lowest marginal utility last. True or false? Explain.
q1. an oil company refines crude oil valued at 62barrel and sells it to motorists at its retail outlets. the price is
Elucidate the marginal revenue from the fourth worker
Assume the current equilibrium price of cheese pizza is $10 also 10 million pizzas are sold every month. After the federal government imposes
Microeconomics and macroeconomics are:
The importance of business communication in the economic development of Bangladesh
There are two gravel suppliers in the Davis area, Hibbert (H) and Davis Lumber (D). They are engaged in Cournot competition, and face the same inverse demand curve for gravel, given by P = 60 - 5Q, where P is in dollars per cubic yard (yard, for shor..
A firm using two inputs (call them “capital” and “labor”) has an efficient combination of capital and labor levels when:
Consider that content with the steady pace of economic recovery, the Federal Reserve Bank decides to undertake a large-scale asset sale resulting in a decrease in money supply. What would be the effect of such a policy on equilibrium interest rate in..
Examine the gift tax consequences of the transaction based on the use of the irrevocable trust, as compared to direct payments to the grandchildren.
Which of the following are actually included in GDP and/or NI? If not counted, explain whether it should be, or simply cannot be. If it is counted, explain what kind of spending and/or what kind of income it is. a) Social security payments rece..
The Aetna's decision is a bad business strategy (bad blood) or one based upon vengeance and intimidation? If it is the later, what should government do about it? Remember to use the invisible hand theory. Aetna Warned it Would Withdraw From Exchanges..
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 200 bunches of bananas.
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