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A) suppose the indifference curves for a consumer are positively sloping. What can be inferred about their preferences? Make sure you label your axes and show the direction of higher indifference curves
B) can consumer surplus be negative? If yes, describe a situation and what assumptions would be violated.
Locate recent articles in the New York Times or Wall Street Journal in which economists are quoted using positive and normative statements.
Discuss the outcomes and challenges surrounding shortages in various markets. Below are a few examples from NBC learn. Pick one of these to discuss: Bees Tamiflu Workers Rice
Illustrate what is the maximum amount you will pay for the new process. Suppose that the new process must pay for itself by the end of the first year.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
consider that two countries brazil and argentina have the same rates of investment population growth and depreciation.
Suppose that a cost-minimizing firm, faced with constant input prices, recently increase the quantity of each of its inputs by 10%. As a result, its output increased from 100 to 120 units.
A physician's office expenses increase 10 percent so she decides to raise the price of office visits by that much. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice reven..
Can citizens who speak an official language or than majority language receive official personal documents in that language. What arrangements have been made in this respect.
Assume Fed expands money supply, however because public expect this Fed action, it simultaneously raises its expectation of cost level. Illustrate what will happen to output and cost level in short run.
consider an economy in which the amount of investment is equal to the amount of savings i.e. the economy is closed to
q1. in reading the national business news that mortgage rates improved by 50 basis points. if mortgage rates were
The widget market is competitive. The market demand is P= 30-0.05Q, while the market for supply is Q= -100+20P. The firms are identical, and a typical firm is known to have an AVCi = 5+0.5Qi with an overhead of 200. Derive the competitive equilibrium..
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