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What is indirect utility function?
How will you derive on indirect utility function from a direct utility function?
Explain Roy's identify?
a limited supply of natural gas to consume (assume that no natural gas will be created in the future). Assume the demand for cubic feet of natural gas is given by the equation, P=350-5Q, the extraction of natural gas has a constant marginal cost o..
suppose in the market for apartments in seattle the equilibrium price is 1000 a month and the equilibrium quantity is
Why should the preferences of an individual substitute for the will of the people, as expressed through the democratic and legislative processes?
For each of the following shocks, describe how monetary policymakers would respond (if at all) to stabilize economic activity. Assume the economy starts at long run equilibrium.
Consider an economy with the production function Y = L1/3 a) Derive the Labor demand Curve b) If Labor supply curve is Ls = (w/p), calculate the equilibrium levels of real wage, labor and output.
Many nations have "out-out" systems: A desire to donate post mortem is presumed to exist unless the individual explicitly chooses ahead of time not to permit donation. How-if at all- would a shift to an opt- out system likely change the supply of ..
Suppose the portfolio manager limits the portfolio to treasury bills and treasury bonds. Using a graph, find the proportions of each type of bond that maximize expected return subject to the risk and maturity constraints
What is the “Fiscal Cliff”? What effect will the “Fiscal Cliff” have on the economy in the short run? Explain and illustrateusing the Aggregate Supply –Aggregate Demand model. How can the “Fiscal Cliff” be avoided?
Choco Delite is a manufacturer of fine chocolates. It's monthly rental expense is $1,000,000. It has 2 million in fixed labor costs. Its marginal costs are $.70 per chocolate bar
What are the equilibrium price and quantity
What is the difference between elastic and inelastic goods?
The long-run factor demand problem.
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