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Johns utility function is U(q1,q2) = q.75,q.25, where q1 is chocolate candy and q2 is slices of pie, If hte price of a chocolate bar, p1 is $1, the price of a slice of pie, p2 is $2, and Y is$80, what is Johns optimal bundle?
Differentiate between demand and quantity demanded. Differentiate between supply and quantity supplied. Give specific examples to illustrate what you are saying. 100-200 words each
Using the same information as in Exercise 8, suppose now that the only labor available is controlled by a monopolistic labor union that wishes to maximize.
ention each account affected and the appropriate amount. Also, assuming your bank lends out money to the extent allowed by law, how much will the money supply grow beyond the initial $100,000 deposit?
Determine the equilibrium price of flowers for the market. Determine the equilibrium quantity of flowers in the market. How many of the flowers in equilibrium are being bought by the men
Use AD-AS diagrams to explain the short-run and long-run effects of each of the following events on output and the price level. Assume that policymakers take no action. A severe earthquake damages factories along the west coast.
Here's a quick problem to test whether you really understand what producer surplus and consumer surplus mean, rather than just relying on the geometry.
Interview a Purchasing and Supply Management Professional Interview a purchasing and supply management professional in a private or public organization
What market interest rate per quarter would be associated with a quarterly inflation rate of 5% and a real interest rate of 2% per quarter?
The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal.
Consider a firm that is a monopolist in the domestic market facing a demand curve given by p = 100 - q, but can also sell in the world market where there is perfect competition and the market price is 60. The firm is a price taker in the world mar..
What are the possible reasons for the price rise mentioned in the news article? Use demand and supply models to illustrate what has happened in the egg market. Make sure that you clearly state any underlying assumptions in your analysis.
Who are maximizing their rational choice, the Japanese or the Americans and which of the three forms would Adam Smith agree is the best choice?
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