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Suppose a consumer shows convex-shaped preferences, and gets utility from consuming goods X and Y. Now, assume the price of good Y, Py, goes down. From class, you know that, when prices change, the movement to a new utility-maximizing point may be broken down into substitution and income effects. Without appealing to graphs and math, explain, in your own words, () the intuition behind this income effect, and (ii) under what conditions you can determine whether good Y is a normal or inferior good.
What are some examples of the financial crisis in Greece and the potential market problems because China's economy is fueled by construction of cities that remain unoccupied? We need to discern the financial condition of the world and look at dollars..
In 2008, a firm has receipts of $12 million and expenses (excluding depreciation) of $5 million. Its depreciation for 2008 amounts to $3 million. If the effective income tax rate is 35%, what is the firm’s net operating income after taxes (NOPAT)?
Consider three countries Hungary, Mexico and the United States, which sell identical t-shirts. If the price of the t-shirt is 500 forint, 20 pesos and US$2. Calculate The purchasing power parity exchange rate between Mexico and the U.S.
What is the standard deviation of the number of accidents per year? What is the probability that there being no accidents in a given month?
You have just been appointed as the economic advisor to the president, who wants to fulfill his campaign promise of a tax cut for all deserving taxpayers. Two proposals are on the table. The first proposal suggests elimination of income tax for peopl..
The Financial sector of the economy: US farmers and ranchers who do not export thier products:
We are a self-electric car company in the US, and would like to go to the new marketing in Kunming, China.
In each of the following situations, the firm might possibly be accused of a restrictive practice: exclusive dealing, minimum resale price maintenance, tie-in sales, or predatory pricing. In each case, identify which restrictive practice might apply,..
Suppose the airline industry consists of two firms, A and B. These two firms engage in Cournot competition with each other over a certain route for which inverse demand is P(Q) = 1000 − Q with Q = qA + qB. Solve for the Cournot equilibrium price. Sup..
If you believe it develops (as opposed to being inherited and present at birth), what influences that development?
Human process interventions, technostructural interventions, human resource management interventions, and strategic change interventions.
What is the nature of professional and how you will correlate it with motivational
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