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A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of jeans is 60, and the marginal utility of T-shirts is 30. Is this maximizing his or her utility? Would you suggest that he buy more jeans and fewer T-shirts, or more T-shirts and fewer jeans?
How can one reconcile the idea of loans with zero percent interest with the existence of moneylenders charging rates above 100 percent per year?
In the department's cost reconciliation report for February, what would be the total cost to be accounted for under the weighted-average method
Third National Bank is fully loaned up with reserves of $20,000 and demand deposits is similar to $100,000. The reserve ratio is 20 percent.
A change in the price of good causes a movement along the same demand curve whereas a change in any other determinant of demand causes a shift in the demand curve. Discuss the factors that would affect the demand for higher education (increase or to ..
The impact of a decrease in the price of memory chips on the market for computers and impact of the government imposing a price ceiling on apartment rents
What cultural determinants about country would be most important to you as you reach a decision about whether or not to do business in this country.
The change in price from a leftward shift of the supply curve will be greater if
Assume that the marginal social cost of downloading a song from the iTunes Store is zero.
If the town owns the lake, what is the quantity of pesticide produced and how much does the town charge the factories to dump waste?
Firm in a perfectly competitive industry - positive economic profits act
ECON131-What is the slope of the function? Is GDP in region B associated with a higher, or lower, level of well-being-How much does each one contribute to GDP
In this economy the welfare theorems apply, and hence the Pareto optimal allocation can be supported as a competitive equilibrium.
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