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Edgeworth-Box
Assume now that A and B interact in exchange without a social planner, but that one has first-mover advantage. A 0 s utility function is u A[x A, y B] = x 0.5y 0.5 and B has the utility function u B[x B, y B] = x 0.5y 0.5 .
a. What is the TIOLI allocation when A has TIOLI power?
b. Prove that it is Pareto efficient
c. What is the TIOLI allocation when B has TIOLI power?
d. Prove that it is Pareto efficient.
New engineering graduate student who started a consulting business borrowed money for 1 year to buy necessary equipment and furnishings. The amount of the loan was $16,000, and it had an interest rate of 11% per year. What was the effective interest ..
Why is functional finance difficult to implement?
A firm is hiring 9 workers at $8.00 per hour. In order to hire an additional (10th) worker it must raise the wage it pays (to all workers) to $8.50 per hour. The marginal factor cost to the firm of hiring the 10th worker is
Using information from the latest Economist Big Mac Index, can you tell me if India is overvalued or undervalued? Please explain your resealing.
Consider a monopoly where the inverse demand for its product is given by P = 50 ? 2Q. Total costs for this monopolist are estimated to be C(Q) = 100 + 2Q + Q2. At the profit-maximizing combination of output and price, deadweight loss is:
In your own words, describe the series of events that led to the “Great Recession” over the 2007-2009 period. Hint: In the vocabulary of Chapter 9, an asset price bubble in what sector of the economy started the the chain of events that ultimately ..
Write down an individual’s optimization problem regarding consumption of good and bad behaviors using the Bellman equation representation of lifetime utility (as we did in class). Be sure to include the budget and time constraints and any constructs ..
Does the fact that Apple outsources so much of its labor affect your decision to buy Apple products - For U.S. consumers and producers, what are the pros and cons associated with Apple's decisions to outsource production?
Discuss some of the methodological and measurement problems one might encounter in using time-series data to estimate the parameters of this model.
Calculate the price elasticity of demand (using the midpoint method as the price of compact discs increases from 10$ to 13$,assuming that consumer's income is $40,000. Show your work.me is $40,000.Show your work. b.On the bases of your answer to part..
Suppose Netflix’s representative customer’s demand curve in the market for DVD rentals is Q = 20 − 10P, where Q is the number of DVDs rented per month and P is in dollars per DVD. If Netflix charges a single price per DVD regardless of how many DVDs ..
Mr. Carloan is paying off a car loan by paying $400 at the end of each month. The nominal interest rate is 12% per year. How much interest is paid in each of the following? Last payment. Fourth from the last payment
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