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What is a corner point? Why do solutions to linear-programming problems focus on corner points?
Bill receives utility form consumption of two goods X and Y. If price of X is $6 and Price of Y is $2, Bill’s budget is $14 and the marginal utility of X is MUx = 3X^2Y^4, what is the optimal amount of X and Y. Solve using the Lagrange multipliers me..
If the economy was experiencing a severe recession, which of the following combinations of monetary and fiscal policy actions would be most appropriate?
What can be the maximum increase in the money supply through the money multiplier process? Show your work.
Why would you choose moral objectivism over subjectivism? What is the difference between the two and what influenced your decision?
Imagine three little girls sitting in a circle, each wearing either a red hat or a white hat (no girl can see the color of her own hat). Suppose that all the hats are red. When the teacher asks if any student can identify the color of her own hat, th..
Thatcher Corporation's bonds will mature in 5 years. The bonds have a face value of $1,000 and an 9% coupon rate, paid semiannually.
Suppose, Worker 1 has a reservation price of 41 cents; worker 2’s reservation price is 42 cents; worker 3’s reservation price is 43 cents, and so on. There are 150 jobs in firms without air purification systems, and this number is fixed. Thus, the de..
What stereotypes did you find represented your own views in reading Powell? How do these stereotypes influence your perception of diversity? How has this perception been formed?
Why are sampling distributions so important in the process of statistical inference?
Merit goods have received considerable attention. Can concerts and other publicly provided services be rationalized using these ideas.
For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither. sells a product differentiated from that of its competitors. has marginal revenue less than price
Draw a supply and demand diagram for the Corn market showing this equilibrium. Draw a diagram for a typical firm in its initial long run equilibrium, showing its Marginal Cost, Average Total Cost, and Long Run Average Cost curves. Are any profits bei..
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