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Q. Suppose that a group of Sonoma county buy local advocates propose a complementary currency that can only be used to purchase goods sold by locally based vendors. Assume that the complementary buy local currency is exchange on a dollar for dollar basis with the official U.S. currency. a. Suppose that everyone in Sonoma County is required to replace a fixed amount of their income with the buy local currency. How will the buy local currency affect the typical consumer's budget constraint? Graph and all variables.b. Use the budget constraint indifference curve paradigm to analyze the effect on optimal consumption choices of someone with a relative preference for local goods. Graph.c. Use the budget constraint indifference curve paradigm to analyze the effect on optimal consumption choices of someone with a relative preference for non local goods. Graph.d. who are the winners and losers under the mandatory program? Specifically what consumers are made better off or worse off? Are local vendors made better off?e. Suppose instead that use of the Sonoma county buy local currency is completely voluntary. Who is the most likely to use this currency and what is the predicted effect? Specifically, what consumers are made better off and worse off? Are local vendors made better off? Graph.
Discuss and post what solution might there be for these people who lack access to computers. Recalling that the definition of perfect competition refers to a market with many buyers, among other factors, thus, how may these people gain access to the ..
Describe the likely economic impact to a company if its bonds are down-rated from AA to A in its annual review from Moody's and S&P. Find the price of a 20 year bond that has a coupon rate of 8%, pays semi-annual interest, and has a $1,000 face amo..
A farmer uses a piece of land with the following accounting costs to grow a crop worth $1800. If a normal rate of return is $100 on such an investment, what will the value of the land be for use during this time period?
There were 13,249 weddings in Springs City last year. According to state records, notaries public performed 17% of the weddings. How many weddings were not performed by notaries public?
Calculate lim x?0- f'(x) and lim x0+ f'(x). Calculate f''(x), and find any inflection points and the intervals on which f(x) is concave up and concave down.
Elucidate how that influences the marginal benefits and marginal. Costs associated with your decision to purchase a house.
Give two distinct reasons why studies might show that physicians firm might use too few nurses and other aides relative to profit maximizing amount of those two types of input.
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
Explain the connections between opportunity cost and the production possibilities frontier.
What does an increase in fixed costs due to the average cost curve of small firms.
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
how should he change his bundle to reach his optimum? Explain your answer using the marginal utility condition at the optimal choice.
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