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Question: Regarding utility maximization, what is meant by the application of the "Equimarginal Rule" and it's relevance to the marginal principle ? Discuss the concepts of utility (total & marginal), budget constraints and affordability. Explain the mathematical formula used in describing the Equimarginal rule?
How is the real GDP calculated from the data and how is the growth rate of GDP calculated from the given data? Fill in the missing values of the growth rate of nominal and real GDP in the table.
what is the meaning of a four-firm concentration ratio? interpret what a four-firm concentration ratio of 60 would
Complete the demand schedule implied buy these data
What did you find challenging in completing the scenario (i.e., information network layout, etc.)? How does this additional information factor into effective distribution strategies?
Consider a firm (Firm X) with some monopoly power that is producing a good that may have positive network effects if a critical mass of consumers.
How does an increase in the currency-deposit ratio affect the money multiplier? What is the effect of an increase in the reserve-deposit ratio? Explain the direction of changes in both cases in terms of bank balance sheets and the ability of banks to..
What are the production costs of your economics class? What are the fixed costs? The variable costs? What's the marginal cost of enrolling more students?
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
Which is more inflationary in the short run, investment spending or government spending? Which is more inflationary in the long run, investment spending.
A satellite in polar orbit around the earth comes within 200 km of the North Pole at its point of closest approach. If the satellite passes over the pole once every 100 min, calculate the eccentricity of its orbit.
Discuss the impact of such plants and compare their economies of scale with small businesses in your own hometown.
What is the equilibrium level of employment per year and the equilibrium wage rate in Badger Land
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