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At the optimum point for a representative consumer, why must the marginal utility per USD spent on all goods be the same? (Support your explanation with graphs and formula/equations where necessary.)
Suppose that the capital investment of Alternative 1 is known with certainty. By how much would the estimate of capital investment for Alternative 2 have to vary so that the initial decision based on these data would be reversed? The annual MARR is 1..
What type of economic environment appears to be best for developing countries seeking to promote their own growth and development through engagement in the global economy?
After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is
When Judy's income increased from $130 to $170 a week, she increased her demand for concert tickets by 15 percent and decreased her demand for bus rides.
1.why does rent control result in a shortage of rental units.2.how does price elasticity of demand affect how much of a
branding iron products a specialty steel fabricator, operates a plant in the town of west star, texas. the town has grown rapidly because of recent discoveries of oil and gas in the area. many of the new residents have expressed concern at the amo..
Smith's utility function is U(x1, x2) = x1 + ln x2 x1 - stamps x2 - beer Smith's budget: p1 x1 + p2 x2 = m p1 - price of stamps p2 - price of beer m - Smith's b
The federal government's budget surplus was $236.2 billion in 2000 and $128.2 billion in 2001. What does this information tell us about fiscal policy actions that Congress and the president took during those years?
Which items in the news clip are common resources? Which items are public goods? Which activities are likely to increase climate change? Explain your answer.
Find the present value of a project cash flow that starts at EOY1 with a value of $5000 and increases each year thereafter by a value of $500 per year. The expected life of the project is to all intents and purposes infinite, and the discount rate is..
Calculate the Economic Life in STB/month for an oil lease with WI = 100%, NRI = 87.5%, lease operating expense = $5,000 per month, price of oil = $15/STB, price of associated gas = $2.25/Mscf, GOR = 500 scf/STB, oil and gas severance taxes = 7.085%. ..
Suppose a rare infectious disease occurs at the rate of 2 per 106 people per year. What is the probability that in New York City (population about 8 million) exactly 25 cases occur in a given year?
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