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Q1. Bob consumes two commodities: x and y (say, chocolate and classical music). More y never hurts, but in order to enjoy y he has to consume at least 4 units of it; put differently, he starts to enjoy y after the fourth unit. (In order to appreciate y he must first develop a taste for it.) Regardless of the amount of y he consumes, Bob thinks that more x is always strictly better than less. Moreover, he (strictly) prefers the bundle (x,y) over (x', y'); where both y and y' are at least 4, if and only if x *y > x'* y'.
Q2. Bob has an income of $100. The price of x is $1, and the price of y is py. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Illustrate what would be the cost saving of this change
given the following hypothetical data in millions of naira1.gross private domestic investmentn592.contributors for
What is the sampling distribution of p ? for this study? What is the probability that the sample proportion p?
The Pizza Company is considering entering the marketplace in your community. Use the information from "The Pizza Company Data" worksheet, located in Week 3 of your course shell, to complete this assignment.
How does the life cycle also permanent income theories resolve the seemingly contradictory pieces of evidence regarding consumption behavior?
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. What price should it charge. How many DVDs should it order from which supplier.
Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.
Can you share the economic development strategies also quote some examples of Elucidate how Singapore also US use them.
Comment on this trade-off between equity and growth. Explain how would you go about resolving the issue if you were the president of a small poor country.
people who want to borrow to finance their investment spending. How are savers and borrowers brought together.
How each market participant cares only about their own self interest rather than about the overall efficiency of resource us
illustrate what proportion of the population would score higher than Bob.
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