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In the class, we discussed the Paradox of Thrift argued by John Maynard Keynes. According to the argument, even if many household decide at the same time to increase their saving, the total saving will not increase in the long run, while it leads the economy to a recession. For example,
case1: Income = N, MPC = ?, MPS = ?. case2: Income = N, MPC = ?, MPS = ? where?? and 0 <1. Even though household decide to save more in case 2, the total saving in the long run will be same in the both cases. (Question) Prove that the total saving in the long run in case 1 equals to that in case 2. -At this time, I recommend you to solve this question theoretically using N, ?, ?, ??, ?? rather than using specific number such as 0.8 or 0.9.
Let B1(hat) and B2(hat) denote the estimated regression coefficients from a sample of size n for y = x1B1 + x2B2 + u. Show that b1 = B1(hat) + (X1TX1)-1X1TX2B2(hat) where b1 is the coefficient estimate from the regression of y on X1.
MacKenzie Company is planning leasing a new asset. The lease would run for eight years and require eight beginning-of-year payments of $100,000 each.
Illustrtae the marginal product of labor.
Illustrate what happens to the supply curve and the equilibrium point when a new technology improves a production process.
Explain How did the resolution affect the short and long run costs of the firm. What are the lessons to be learned that can be applied to your position at Acme Motors in Nuevo Laredo.
Illustrate what is the objective of the article. Please note that the article has to be relevant to microeconomics and the topics covered in this class.
Use the following data for a pure monopoly to calculate the firm's-its profit-maximizing output level and produce price;
Suppose that rich countries surprisingly commit to much higher official aid, to be maintained for several decades. What would be the effect of such aid on?
Explain how a consumer as well a business in the perfectly competitive arena maximize utility, discussing any similarities.
Utilizing the economists model of individual choice comparing the marginal costs and marginal benefits of a choice.
Why would the firm price it differently in different countries. Illustrate what do you think will happen to the price over time.
A firm has two production plants where they produce the same product. The cost function at plant #1 is A) If the firm wants to produce Q total units of output, what fraction of Q will be produced at plant #1? What fraction at plant #2? Show all wo..
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