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On the other hand, Nimrod is just as capable a hunter as ever; it takes him an average of only 2 hours to catch a deer. His fishing has suffered in the same way Grok's has, so that it also will take him 4 hours to catch a fish. What is the opportunity cost to Nimrod of catching a deer? Answer fish per deer. Give the answer as a number. If the answer is a fraction, use decimals. For example, if you think the answer is "3/5" you must submit it in the form "0.6" or ".6" or "0.60000", etc...
q.alices utility is given by x as well as y are goods as well as l is the amount of hours that alice works. alice can
Children are the age group most likely to live in poverty. In any given month, about 20% of children are living in households subsisting below the poverty line. Children make up about 25% of the U.S. population as a whole, but they make up more than ..
What is the equilibrium quantity and equilibrium price for the following demand and supply curves: Calculate consumer and producer surplus in this market.
Utility is given as: U(x, y) = x^1/2y^1/2. Graph a typical indifference curve for this function. (Hint: Choose a level of utility and draw various combinations of x, y that result in that level. What is the marginal rate of substitution (MRS) for thi..
Your bank has total assets of $220 million and a capital-to-total assets ratio of 7 percent. You learn that your bank’s entire $20 million loan package to Central American nations will be written off as bad loans. Will your bank survive this crisis? ..
Gail works in a flower shop, where she produces 10 floral arrangements per hour. She is paid $10 per hour for the first eight hours she works and $15 an hour for each additional hour she works. What is the firm’s cost function? What are its AC, AVC, ..
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
What do you think about the Supply-Siders ideas? Do you think supply side policy could fix the economy? Describe how Supply Siders want to use policy tools and how it would work. P.S. If you previously said that you thought another school of thought ..
The Nation of Wiknam has 5 million residents whose only activities are producing and consuming fish. They produce fish in two ways. Each person who works on a fish farm raises 2 fish per day. Why do you suppose that X, the productivity of each fisher..
What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.
Discuss how the Fed affects interest rates-the process? In October of 2008, the Fed stepped in as lender of last resort, explain this action. The US Federal Reserve is asking people for their comments on what steps we would like to see in changes in ..
An economy is in long-run macroeconomic equilibrium with an unemployment rate of 5% when the government passes a law requiring the central bank to use monetary policy to lower the unemployment rate to 3% and keep it there. How could the central bank ..
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