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Perfectly Competitive market
2 identical consumers
PPF is y=100-x^2
U = x^0.5 * y^0.5 for both of the consumers
Is PX/PY = 1 an equilibrium price? Why or why not?
Whats the total amount of x and the total amount of y and the Py/Px that achieves allocative efficiency?
Julio is planning for a 25-year retirement period, during which he wants to withdraw a portion ofhis savings at the end of each year. He plans to withdraw $10 000 at the end of the first year, and to then increase the amount of the withdrawal by $100..
The following events occur in the market for good B, which is a normal good: Identify the impact of the event to the equilibrium price and quantity of each event.
When Lisa was 16 years old, she bought a pedigree dog on credit for $1,200. While Lisa was a minor she made numerous payments on the contract price for the dog. The dog has now contracted a serious illness. Can Lisa avoid the contract and why? If so,..
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What files are required in the user's home directory in order to use secure shell? What is the purpose of these files?
Dr. Dolittle decides to sell his current home and move to a larger home. He estimates that he can sell his current home for $100,000 and can buy a larger home for $175,000. He plans to use the entire $100,000 sale proceeds as a down payment on the ne..
Illustrate what is the proper role of unions. Why are they declining in membership and influence in the economy.
An increase in the number of buyers for LCD TV's would cause the market demand curve to. 1. shift left or right depending on whether buyers purchase more or less than existing customers 2. shift right 3. shift left. 4. stay the same because the marke..
Suppose Helen works at a bakery where she bakes bread and cakes. Each hour she devotes to baking bread yields 4 loaves and each hour she devotes to baking cakes yields 8 cakes. What is Helen’s opportunity cost of baking one loaf of bread?
Illustrate what is the company's pretax cost of debt.
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“If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public g..
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