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Assume that, from the initial consumer equilibrium position, price of good X falls while price of good Y remains the same. Using indifference curve analysis, describe how and why consumer's relative consumption of two goods will change.
What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production?
peter higgins is a sales agent for xzy company. he has an effort cost function of c e2 and a reservation wage of 1500.
Compare the two graphs for GNP for Techistan and Growthistan. What is the difference in the final value of GNP for each country and Plot the growth rate for Techistan and Growthistan on one plot.
question 1nbspthe table sets out the demand and supply schedules for banana.pricenbspdollars per boxnbspquantity
explain the difference between a positive and negative externality. in your analysis make sure to provide an example of
An individual purchases a dozen eggs and must take them home. Although making trips home is costless, there is a 50 percent chance that all of the eggs carried on any one trip will be broken during the trip. The individual considers two strategies: (..
1. john works at a coffee shop and makes 10 per hour. he decides to leave work an hour early to go see a movie that
Within your supplemental readings for this semester, there are several discussions of the Keynesian multiplier. In the minds of the critics that you read, which is not a deficiency of the multiplier concept
you are a member of a presidential commission appointed to consider a mandatory national health insurance plan and the
IQ scores are normally distributed and assume that the average IQ for all Economics majors is 108 with a standard deviation of 11. what percentage of Economics majors would have an IQ of more than 118.
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
A perfectly competitive firm faces a market price of $10 for its output X. It owns two plants, A and B, whose total costs are TCA = 10 + 2X + .25X2 (to the second power) TCB = 15 + .4X + .1X2 (to the second power).
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