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It is a hot day at the beach. Ice water costs $2 per bottle and this is your only option. Your marginal benefit for water follows the equation MB = $10 - $x. x is represents the number of bottles of ice water you have had. So, for example, the marginal benefit of the first bottle is $10 - $1 = $9. The MB of the 2nd bottle is $8 .. and so on. Assuming you are an economically rational consumer how many bottles of water will you buy? A. 2 definitely B. 3 definitely C. Either 2 or 3 (you are indifferent on the 3rd bottle) D. 8
Define Indifference Curve and what are the main properties of Indifference Curve? By using Indifference Curve analysis explain how the consumer attains maximum level of satisfaction?
Please explain how the value is created using marketing and supply chain strategies by the dealer/retailer in this supply chain, Lowe's Companies.
Sanford (1952) in his discussion of the follower in the leadership process suggested that we think about the follower’s “readiness for leadership.” Explain what Sanford meant by this concept
The management of the Mini Mill Steel Company estimated the subsequent elasticities for a unique type of steel.
Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.
Suppose the consumption expenditure is C = $100 billion + 0.9*Y. Investment (I) is $100 billion, government spending (G) is $50 billion and exports (X) are $100 billion. Imports depend on the level of income as follows: M = 0.1*Y. Calculate the equil..
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers. Hull and Inverted V are located across the street from one another and can observe the prices posted
Maintenance costs for an industrial system are expected to be as follows:
This means that an individual firm's marginal cost is given by MC = 4q.Also, the market demand is given by how much output will each of them produce?
Use an appropriate economic theory to explain why Kobe Bryant might employ someone to answer his fan mail even if he can read the letters and type the responses more quickly than the person he employs?
In exchange for $25000 today I have been promised $12285 per year for 5 years. Inflation has been averaging 8% per year. The inflation adjusted or real IRR is?
If the average income in the town increases to 15, solve for the new equilibrium Quantity and equilibrium Pb.
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