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1.What are perfect substitutes? Give some real world examples. What do their indifference curves look like? Can you give a utility function for perfect substitutes?
2.What are perfect complements? Give some real world examples. What do their indifference curves look like? Can you give a utility function for perfect complements?
i would like to know more about dead-weight loss and externalities what is their relationship and the causes and
If you want to receive a 7% inflation-free return on your investment and you expect inflation to be 5.5% per year, what actual interest rate should your earn? (Round your answer to two decimal points and do not enter the percent sign % with your answ..
Using concepts used just in Microeconomics(and ignoring any that you might think relevant from Macroeconomics), what does economics have to say about global warming. Is the lesser role for he market and of competition in China.
1. assume that a monopolist has a demand curve given by p 1500 - 4q and tc 100 5q2 with mc 10q.a if the firm
Construct a histogram of ln(WAGE). Compare the shape of this histogram to that for WAGE from part (a). Which appears to be more symmetric and bell-shaped?
What determines the size of the employment effect of a minimum wage increase in the model of perfect competition - What is meant by monopsony power and why might firms have it?
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips curve.
make a list of products and services which are least satisfactory and have shown the least improvement over time. how
Identify the impact on the balance sheet for that month if the following information is not used to adjust the accounts. 1. Supplies consumed during the month totalled $3,000. 2. Interest accrues on notes payable at the rate of $200 per month.
Assume an airline flying on the New York - Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travelers.
Under a fixed exchange rate regime, we know that an increase in stock market wealth that increases consumption will cause:
budget deficits are sometimes useful to spur consumption and thus encourage investment in business plant and equipment
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