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Consider the problem of maximizing x subject to the constraint that x2 ≤ 0. Show that there exists a unique solution to this problem, but there exists no Lagrange multiplier. Show that this is because the Slater condition is not satisfied.
For a given quantity, for example 50 units per minute, which product has a higher willingness to pay?
According to the life-cycle hypothesis, what would be the effect of the social security system on your average propensity to consume out of (disposable) income? Is the credibility of the social security system an issue here?
The manager of the aerospace division of central Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms.Her most optimistic estimate(a price not expected to be exceeded more than 10 percent of..
Provide three examples of organizations that show how Friedman's admonition, above, if taken literally, could be used to legitimate otherwise unethical behavior.
The price is just high enough to cover all the costs of providing insurance, including a 50 percent premium to cover the costs associated with uninsured drivers. Suppose the city makes auto insurance mandatory.
The labor hours required to produce one unit of wheat in the United kingdom 2. The labor of producing one unit of wheat in the United states is 1. What is the opportunity cost of producing a unit of wheat in the United kingdom
Each additional music store will decrease the price of books by $2 per book and increase the average cost of selling books by $1 per book. Predict the equilibrium number of book stores.
Jones Company operates within a monopolistically competitive industry. The estimated demand for its products is given by the following inverse demand function P = 1760 - 12Q It finance department has estimated its total cost function as TC
During the following year West Bubble has 10% domestic inflation and East Bubble has 20% domestic inflation. Two ordinary soap bars are still traded for a deluxe soap bar. At the end of the year what has happened to the nominal exchange rate? Whic..
the town of cinecity has two residents spielberg and lucas. the town currently funds its free outdoor movie projections
Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 GPA rather than a 2.0GPA. Total Hours Hrs Studying GPA HrsWrking Income
What do the stories, "Young Goodman Brown," "Dead Man's Path," and "A Very Old Man with Enormous Wings" imply about people who claim to be religious? Is this a positive view of worship or a negative view?
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