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A company builds furniture. Recently different woods they use have become harder to obtain. Consultation with management for 2 lines has resulted in the following product functions for hardwood usage in the two products, products Y and K.
Product Y Y=2Ty-.001Ty^2Product K K=20Tk-,01Tk^2
Y=units of product YK=units of product KTy= wood used in product YTk= wood used in product K
Product Y can be sold at a profit if $100 per unit, and product K can be sold at a profit of $25 each. The company has 1,300 units of wood. How should that be allocated? Why?
The Australian government administers two programs that affect the market for cigarettes
If Frank's salary as a sales manager was $70,000 instead of $100,000 would your answer be different.
Representatives were to logroll (trade votes) to get their preferred policy to pass, what would be the result. What are the total benefits from each project.
The largest loan that the bank can make on the basis of the new deposit. If the bank chooses to hold reserves of $3,000 on the new deposit, what are the excess reserves on the deposit.
Analyze a situation in which both parties entering into a contract could benefit, economically or otherwise, from slightly ambiguous language contained in the contract.
A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne.
Can you find a Nash equilibrium in pure strategies that is not efficient. In some legislatures, proposals for modifications of the law are formulated by committees.
Draw and show the change in the PPF when an outbreak of avian flu sickens millions of agricultural and industrial workers.
If the foreign country enters the market first, determine the equilibrium price and quantity. Will both countries produce. Show both average cost curves and the equilibrium.
Suppose a consumer is at an optimum, consuming 6 hamburgers a week at a price of $1.50 each and 10 donuts a week at 50 cents a donut.
Suppose the firms compete in quantities. If firm 1 deviates from collusion in one period, what is the profit of firm 1 in that period in subsequent periods.
Steps that a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept
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