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After watching the awesome videos of ECON-281, you know that one of the properties of the prefer- ences is that "more is better". However, your friend tells you that the bundle A = (a: = 2,1; = 3) gives her the same utility than the bundle B = (a: = 5, y = 3). With this information, you conclude that your friend must be irrational.
What are the causes of the decline in unionism in the United States? Briefly describe the various ways by which unions increase wages for their members? Describe the impact that labor unions have on income inequality? Using examples, briefly describe..
Provide a cost-benefit analysis for a company that has to decide whether to hire more staff or hire temporary workers to meet production schedules.
Market Determinants of Value - Supply and Demand San Francisco (SFO) has one of the highest average rent in the U.S. There are many forces that influence market
What is a "real-life" example of a price-searcher (business firm) in the United States that currently practices what defines as "price discrimination"?
Suppose the economy is at a short-run equilibrium GDP that lies above potential GDP. Which of the following will occur because of the automatic mechanism adjusting the economy back to potential GDP?
You hold an auction among three bidders. You estimate that each bidder has a value of either $16 or $20 for the item, and you attach probabilities to each value of 50%. What is the expected price? If two of the three bidders collude, what is the pric..
It is highly recommended that you review the Seminar presentation located in the Seminar area before beginning the Discussion.
Suppose that you want to maximize the value of the function f(x) = x^3-6x^2+9x, subject to 0 less than or equal x less than or equal 5. Which value(s) of x satisfy the first-order condition for this maximization problem? Which value(s) of x are bound..
Suppose, suddenly the supply of mutton decreases due to unknown goat diseases. What would happen to the market of salad items? Would this event affect chutney m
Explain the relationship among the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced.
Despite the great achievements in health in the 20th century, the number of deaths from cardiovascular diseases have increased. Explain why this might have happened.
Both curves are assumed to be straight lines. Average Price($ per unit): $1,000,100
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