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Relate the ideas of Adam Smith to the moral justification of capitalism, given the logic of the theory of the competitive firm (use two diagrams-one for the market and one for the individual firm inside that market/industry). Define the term "consumer sovereignty," in terms of such a market dynamic.
A random walk process with drift:
Matthew's utility function implies that the marginal utility of bananas is 0.5 √X/Y and the marginal utility of ham burgers is 0.5 √Y/X. How many bananas will Matthew buy? How many ham burgers will he buy?
The equation for a demand curve is P=2/Q. What is the elasticity of demand as price falls from 5 to 4? What is the elasticity of demand as the prices falls from
Can you reject the null hypothesis that income does not affect quantity demanded? What proportion of total variation in Q is explained by the regression equation?
how much output should the firm allocate to market 1? Approximately how much output should the firm allocate to market 2? What is the approximate price that will be charged in market 1?
Graphically if the approval line shifts to the LEFT between bad drugs (on the left) and good drugs (on the right), what happens to the likelihood of error types?
Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency.
What are the factor markets like for the automobile industry? What global pressures does the automobile industry face? Foreign competition?
Illustrate why does inflation affect the increase in Social Security and other benefits. Is this effect a cost of inflation, as the article suggests.
when they determining an appropriate congestion tax Economist would use which of the following elements of economic way of thinking? thinking at the margin be isolating variables she making assumptions or D All the Above
Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B (H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB (H)=420-80H and MC(H)=100+240H.
Graph a hypothetical PPF for a wealthy and developing country. Each country on your graph should have the same degree of concavity, with the two outputs of goods and services labeled "Other Goods and Services" on the X-axis and "Clean Air and Water" ..
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