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Felix chooses between clothing, q1, and food, q2. his initial income is $1000 a month, p1=100 and p2=10. at his initial bundle he consumes q1=2 and q2=80. Later, his income rises to $1200 and the price of clothing rises to p1=150, but the price of food does not change. As a result, he reduces his consumption of clothing to one unit. Using arevealed preference reasoning can you determine how he ranks the 2 bundles?
q.remington inc. purchases a machine that costs 700000 and has an approximate d useful life of 10 years a macrs
If output prices rise without the nominal wage rising, then real wages rise and workers are willing to work more. This is one of the main reasons that the short-run aggregate supply curve slopes upward.
How is elasticity related to revenue. How is diminishing marginal returns related to cost. How are revenues and costs related to profit.
wyandotte chemical company sells a variety of chemicals to the automobile company. wyandotte currently sells 30000
A cousin of James Darwin, examined the relationship between the height of children and their parents
An economy produces hot dogs and hamburgers. If a discovery of the remarkable health benefits of hot dogs were to change consumers’ preferences, it would:
A monopolist faces the demand curve Q = 11 - P . The monopolist has a constant average (and marginal) cost of $6 per unit.Draw the average and marginal revenue curves and the average and marginal cost curves. What are the monopolists profit-maximizin..
The US decision to raise interest rates in the 1970s had ALL of the following results EXCEPT
The company you work for needs to rent a bulldozer for a job. The company has made a non-refundable deposit of the first month’s rent (equal to $1,000) on a 6-month lease for a bulldozer. Assuming the plan is to use the bulldozer for 6 months, and th..
“Recent research points to another problematic aspect of international investing as well: When markets are the most volatile and investors most seek safety global diversification is of limited value.”
Suppose a firm has a fixed $100 to spend on K=10, W=5. What combinations of inputs can the firm buy? What is the equation for the line that represents all of these combinations?
Own price elasticity of demand for clothes is -2 and cross price elasticity of demand between clothes and shoes is -0.5. if the store increases the price of clothes by 5%, what will be the change in revenue?
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