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The law of diminishing marginal utility states that as an individual increases consumption of a given product within a set period of time, the utility gained from consumption eventually declines" Examine whether the statement above is true or false. explain your response.?
When a construction possibilities frontier is bowed out, away from the origin the opportunity cost of a good.
Activity-based costing uses: A. multiple cost pools to develop a single allocation rate B. multiple cost pools to develop multiple allocation rates C. a single cost pool to develop multiple allocation rates D. a single cost pool to develop a single a..
Consider an economy where people can be either employed (e) or unemployed (u) . Let’s normalize e+u=1 , so that at any given point in time, e is the fraction of people employed. Conditional on being employed today, the probability of getting fired is..
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
You are a novelist who has been published several times. None of your books have been a great commercial success, but you have established a fine reputation as a writer, and you make a decent living. Your agent works for a well-known agency which rep..
suppose demand and supply are given byqxd 7- 12px andqxs 14px-12bull determine the equilibrium price and quantitybull
What is the result of an increase in the price of bread, a normal good? The demand curve shifts to the right. The demand curve shifts to the left. The quantity demanded increases. The quantity demanded decreases.
Which of the following statements regarding a monopolist is false?
Daniel, a recent college graduate, is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple, who provide him with food and shelter. Then, because of a dispute between Daniel an..
a friend of yours is considering two cell phone service providers. provider a costing 120 month for the services
A firm has the exogenous cost function C(Q) = 354Q-30Q^2 + Q^3. Compute the marginal cost function. Use calculus to find the value of Q at which average cost is minimized. Does this cost function satisfy the three assumptions made in class concerning..
You have maxed out your $10,000 credit card, which is being charged 12.8% interest compounded daily. What is the minimum monthly payment to continue to break even? How much should you pay each week to get out of debt within one year?
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