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What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.
A rise in the price of coffee beans, which is a material for a cup of coffee, is responsible for these observations.
In using game theory, both parties have dominant strategies that lead to a best case for each individual. However, these decisions result in a worst case for the combination of the two. Discuss ways that each party can achieve a better solution
Three months ago you purchased, at par, a $100,000 bond with a stated interest rate of 5%. Today, the Federal Reserve announced that it is reducing the discount rate by 0.5%.
Furniture manufacturing involves a huge number of options to satisfy consumer preferences, but this extensive set of choices slows production and raises costs.
How does a generic drug differ from its brand name, previously patented equivalent Explain why the price of a brand name drug typically declines when an equivalent generic drug becomes available Explain how that drop in price affects allocative ef..
Provide specific example of how you used the marginal decision making principle to choose between two alternatives.
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
How responsive to demand is each in the market period and describe what a manufacturer of each product might do in the short run to increase production.
Firms in a competitive market are unable to dictate the price for which they sell an item for and over a long period of time will be unable to make an economic profit.
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
You are given the following two IS curves that show how real GDP (Yt) in the current time period t depends on the current interest rate and interest rates in previous periods, where rt is the interst rte in time period t. Furthermore each time per..
Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..
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