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Toby is indifferent between the bundles (9, 3) and (5, 5). When Toby is at (9, 3), he would be willing to give up one unit of y if he were to receive two units of x. If Toby is at (5, 5), he would be willing to give up four units of x if he were to receive two units of y.
Give two possible utility functions for Toby for goods x and y. Hint: draw a graph.
Explain what is the maximum amount of new loans that this bank can make. Show in column 1 how the bank's balance sheet will appear after the bank has lent this additional amount.
A number macroeconomic variables decline during recessions. One of these variables is the GDP. Empirical studies indicate that the long-run trend in real GDP of the USA has an upward trend. How is this possible given business cycles and macroeconomic..
What are price floors and price ceilings? How could a business maintain its level of profitability if forced to accept price ceilings? Use a business in your response. For example, a coffee shop could ... Please do not use a coffee shop in your examp..
Explain how does global economic competition impact the domestic market and decisions related to the strategy a firm uses to compete.
To better identify increasing price of textbooks, dean asks you, economics Department's star student, to create an index of textbook price. Average student purchase three English, two math and four economics textbook. Prices of these books are giv..
Explain what happens in these two markets as the number of sellers drops to only one seller. c) explain how part b) illustrates to the first experimental principle
Post and discuss why the tax credit enacted by the 2009 American Recovery and Reinvestment Act has no effect on the employees’ supply of labor using the concepts of consumer surplus, producer surplus and deadweight loss. Apply the effects of the Soci..
The BB&T Bank offers to pay 2% per year, annually compounded interest on savings deposit. The Wells Fargo Bank pays 2% per year, quarterly compounded interest. A man who has $10000 to put in a savings account will leave all money in the account for 2..
a price- setting firm wilpen company produces nearly 80 of all tennis balls purchased in united states. wilpen
In this forum we discuss the different arguments that are made in favor of international trade protectionism and the important role of the politics of protectionism.
Assume two firms, A and B, serve a market with demand D(p) = 100 minus (p). Also assume that (i) firms compete for market share (quantity competition) and (ii) firm A has cost function cA(Q) = 2Q and firm B has cost function cB(Q) = Q. Describe this ..
Economists’ models generally produce solutions that allow polluters to continue polluting to some degree. Why do economists favor allowing some pollution to continue? Provide a simple model that yields that result, explain the argument, and comme..
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