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Mitchell's income is $150, the price of X is $4, and the price of Y is $2. Given these prices and income, Mitchell buys 20 units of X and 35 units of Y. Call this combination of X and Y bundle J. At bundle J, Mitchell's MRS is 1. Given these prices and income, what is Mitchell's optimal consumption of X?
The work by Milton Friedman altered the consensus that had developed in the aftermath of the Great Depression on how the economy should be managed. As a result, the current goal of economic policymakers is to: reduce the magnitude of both downturns a..
Hot chocolate is made from chocolate syrup and milk. Using a separate supply and demand graph for each question, please show the effects of the following events on the market for hot chocolate (please specify the change in demand, supply and the equi..
how would two of the rbas policy objectives are conflicting? please give an example. which of the goals would the rba
Distinguish between liberal economics and conservative economics. Why is macroeconomics an inherently political subject? Summarize the problems that can be created by rapid inflation. How can inflation become self-perpetuating?
What knowledge, skills, attitudes, and behaviors should an effective citizen have? Explain the connections you see among service, civic responsibility, and business? What are the business/industry implications of civic responsibility?
An effective Federal Reserve operating target is a target that is reliably linked to
If most cartel members keep their agreement to cut back production. People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collu..
Explain how did the early classical economists view the relation between productions also consumption.
Discuss the differences between unemployment and underemployment and give examples of each. Which do you think is a more serious “problem” for the economy? How might underemployment be addressed through government policy?
q1. 1. herzberg concluded that pay was not a motivator. if you were paid to get better grades would you be motivated to
Does Zara experience disadvantages from its "fast-fashion" allocation system. Are these disadvantages offset by the advantages.
Illustrate what is shop's sales mix Illustrate what is shop's break-even sales volume in dollars. Explain how many bicycles of each type must firm sell to earn a target net income of $50,000.
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