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Q1. A consumer must pay $10 per visit to an amusement park for the first five visits but only $5 per visit beyond five visits. What does the budget line relating to amusement park visits and other goods look like?
Q2. Consider the markets for pizza and beer. Show graphically (using a diagram for each market) and explain the impact(s) you would expect if technological change leads to the development of a pizza oven that is both much cheaper and uses less energy than current ovens.
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
What, how and for who apply to the following the economic decision. Should the company makes its own spare parts or buy them from an outside vendor.
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
Do protectionist policies benefit producers, consumers, workers, or the government
Total hours worked, and average labor productivity all are procyclical. Which variable, output or total hours worked, increases by a larger percentage in expansions falls by a larger percentage in recessions.
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
Calculate the price elasticity of demand for Newton's Donuts
Hero Nakamura is CEO of the Cola King Bottling Company a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Trace out exactly where this 100 increase in income goes in the second round and compare to our simpler treatment with a closed economy and lump sum taxes.
On one hand, the WTO's role in international trade is becoming more significant. On the other hand, its verdict on the Brazil's Embraer versus Canada's Bombardier case did not seem to solve the problem.
If the foreign country enters the market first, determine the equilibrium price and quantity. Will both countries produce. Show both average cost curves and the equilibrium.
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