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in the relation to shadow pricing, what is the purpose of identifying revealed preferences?
Suppose Congress votes to decrease corporate income tax rates. Use the AD/AS model to analyze the likely impact of the tax cuts on the macroeconomy. Show graphically and explain your reasoning. What exactly causes AD and/or AS to shift? What happens ..
Use Excel to help with calculations. 1. The times its takes the UCLA men's track team to run the 100 meters is normally distributed with a mean of 10.1 and a st
A proposed project has indefinite life. The initial cost of the project is $70,000. There will be a onetime investment of $100,000 at the end of Year 6, and an operation cost of $10,000 per year from the end of Year 10 through infinity. If the intere..
1. Is all households consume the same goods and services? 2. What is true about the tastes and preferences of each individual?
Elucidate why your answer to part (a) is an example of marginal analysis also optimizing behavior in general.
Is the college student's average expense less than the national average? complete write-up in context.
An experiment consists of rolling a single die and selecting a card from a standard deck.
One of the most important debates during the Constitutional Convention in 1787 was about the power and size of government. If the Founding Fathers could view the government of the United States today, which side of that debate would think that they w..
In response to the Great Recession of 2008, Congress and the President passed the American Recovery & Reinvestment Act of 2009.
EverKleen Pool Services provides the weekly swimming pool maintenance in Atlanta. Dozens of firms provide this service and the service is very standardized (so the market can be assumed to be perfectly competitve for modeling purposes). At what outpu..
The composition of pennies is 95% copper and 5% zinc. Coper sells for $3.50 per pound and zinc for $1.00 per pound. It takes approximately 130 pennies to add up to the one pound of total weight. It cost the U.S. Mint $2 to produce 100 pennies. The U...
Suppose you have $440 to spend on either concert tickets or CDs. Concert tickets cost $11 each, and CDs cost $8 each. Let T = the number of concert tickets, and C= the number of CDs. Write the equation of the consumers budget constraint
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