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An economy produces only two goods: Beer and Whiskey (B and W). The only scarce resource is labour. There are 1,000 labour hours available in this economy. One labour hour produces either 100 litres of beer or 50 litres of whiskey. The citizens have utility functions of the form U(B, W) = BW.
State if the following statement is true, false, or uncertain. Explain your answer.
At every Pareto efficient allocation, the number of litres of beer produced equals the number of litres of whiskey produced.
J.D. Power and Associates says that 50 percent of car buyers now use the Internet for research and price comparisons.
Illustrate what is the marginal cost of the 1,000th packet. Is this firm making an economic profit, a normal profit, or an economic loss
This theory of consumer choice is a branch of microeconomics which relates to what is called to consumers demand curves and to expenditures of consumption.
For each year from 2006 to 2009, calculate the dividend yield, the capital gains yields, and the total return to the stock. Express your calculations in percentage terms.
You are a policy adviser responsible for air pollution in a region where there are only two chemical plants run by firm A and firm B. Firm A’s pollution abatement costs are 2x^3 , where x is a unit of pollution. Suppose your boss, an elected politici..
how many moles of acetic acid were in the salad dressing sample?
What is the probability that a random sample of 10 pitches from this pitcher will have a mean less than 15 ?seconds?
1. What is the difference between private and public goods? How ownership of private goods (property) may result in conflicts? Give suitable example to illustrate your answer.
Ms. Lee's utility function is U(Y) = (100 + Y) 0.5, where 100 is her initial income level and Y is additional income gained or lost from a gamble.
Why do you think the English Premier League has historically charged different prices for broadcasting rights in different European markets? If you were running the English Premier League what would your strategy be on broadcasting?
How low would the interest rate on the loan with the compensating balance have to be for you to choose it?
In the last year, what is an example of something you have done that can be considered a socially responsible effort? How do you think this has helped your community?
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