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Use the following to answer the questions below:
z is the marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B.
Assume MUA = z = 40 – x and MUB = z = 84 – 4y.
Assume that the consumer has $40 to spend on A and B; that is, x + y = 40.
What is the marginal utility per dollar? What is best way to allocate the expenditure of the $40?
Please show your work? (can this also be done in excel?)
Consider the following possible schemes for taxing a monopoly: A proportional tax on profits. Explain how each of these taxes would affect the monopolist's profit-maximizing output choice. Would the tax increase or decrease the deadweight loss from m..
Rational expectations theory suggests that? short-run stabilization policy
Where Q is output of ice cream, and L is labor hours. In the short-run K is fixed at 100. If capital rents for $10 and wages are $5 per hour, state the Total Variable Cost (Short Run Total Cost) function.
assume a visitor from another nation decides to open a checking account at j amp r national bank. the visitor deposits
give an example of a government created monopoly. is creating this monopoly necessarily bad public policy?explain two
Are monopolies and oligopolies (firms demonstrating power) always bad for society?
Explain how does a firm determine its prices also the quantity of labor need in the resource market during a specific period. How does a firm determine its demand for capital funds during a specific period.
You are required to analyse the strategy of a firm of your choice. You need to pick a firm and identify the strategy that the firm uses to compete with its rivals. It is important that you conduct an industrial or environmental analysis, before you u..
q. an independent trucker has the following options. if he buys expensive machinery then he can hire fewer drivers to
Consider a market where supply and demand are given by QXS = -14 + PX and QXd = 85 - 2PX. Suppose the government imposes a price floor of $38, and agrees to purchase any and all units consumers do not buy at the floor price of $38 per unit. Determine..
Currently, a fast-food firm has a monopoly in the university student union. The monopoly pays the university $75,000 a year in order to maintain it. The firm earns an economic profit of $290,000 per year. Another fast-food firm wants to enter the mar..
Suppose that you can schedule a worker for up to 10 hours per day. The total benefit and total cost functions are B(H) = 1200 × √H and C(H) = 200H. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/√H and MC(H) = 200. ..
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