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Draw an indifference map for a typical person’s preferences over five-dollar bills and tendollar bills using the vertical axis for five-dollar bills and the horizontal axis for ten-dollar bills. What is the marginal rate of substitution (MRS)?
Elucidate the difference among nominal and real variables and give tow examples of each. According to the principle of monetary neutrality, which variables are affected by changes in the quantity of money.
Bring an example of production. (Any production in any industry) And clearly state which costs do you think will be fixed costs and which ones will be variable costs? Explain Also explain the explicit and implicit costs of the business? Explain
To maximize profit, should the firm lower its price, increase its price, or leave the price unchanged? How would you change your response if marginal revenue is $1.50? Explain your responses.
A beer distributor claims that a new display, featuring a life-size picture of a well-known athlete, will increase product sales in supermarkets by an average of at least 50 cases in a week. For a random sample of twenty supermarkets, the average sal..
Assume the Bank of Japan allowed the money supply to grow by 2% each year while the Bank of Korea chose to maintain relatively high money growth of 12% per year.
Chemical process that converts hydrogen and oxygen into electricity and waste heat Oxygen from atmosphere, hydrogen from gas, solid hydrogen storage, or from hydrocarbon fuel Produce few emissions. How do we pick best energy alternative.
Illustrate what are the new long-run equilibrium values of these three variables.
Mary’s utility function is U (b, c) = b + 100c ?c2, where b is the number of tomatoes in her garden and c is the number of onions. She has 500 square feet in her garden to allocate between tomatoes and onions. How many tomatoes and onions should Mary..
determine intellectual analysis and incisive. Write down a brief essay of about one page on the impact of labor migration.
An economy starts with $10,000 in currency. All of this currency is deposited into a single bank. The required reserve ratio is 20 percent.
find out the annual prices of oil for the past 5 years. By what percentage is the current price higher or lower than 5 years ago.
q1. find the equilibrium price and quantity after the shift of the supply curve.q2. a machine used to cereal boxes
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