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Why do points on a utility possibility curve represent efficient allocations of resources? Why must the utility possibility curve be downward sloping? Draw a utility possibility curve, and show how it is possible to achieve efficiency by moving from a point within the curve and the axes to a point on the curve. Create a graph on a spreadsheet program
Briefly explain the meaning of f test why do you think this test is considered to be more important in multiple regression analysis than it is in simple regression analysis.
If there is no tariff, explain how much does customer pay for a pound of coffee. Illustrate what is the quantity demanded.
Suppose he is offered fair insurance with a $3000 deductible. What premium will he pay and what will be his expected utility with insurance.
You know that marginal cost of last unit is $30. Should industry continue to operate at a loss. Carefully elucidate your answer
Arnett is appearing for a new Web portal to utilize to access information which interests him on Internet.
Explain what are the implications of this for the relative stability or instability of the prices of pork and lamb compared with other foodstuffs.
Illustrate what do your results tell you about the relative desirability of perfect competition versus monopoly in the presence of externalities.
Elucidate how do the GDP per capitals change after accounting for price indices.
Illustrate what are the levels of income per worker also consumption per worker. Show how capital stock per worker will evolve over time in both countries.
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
Now suppose the economists allow for crowding out. Illustrate what would their new estimate of the MPC be larger or smaller than their initial one.
Assume to the firms act independently as in the Cournot model. Determine the long run equilibrium output also selling price for each firm.
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