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Given the utility function:
U=lnc + l + lnc' + l'
and the budget constraint:
w(h-l) + w'(h-l')/(1+r) = c + c'/(1+r) where c = current consumption, c'= future consumption, l=current leisure, l'=future leisure, and r is the market interest rate. Suppose that the current wage, w=20 and the future wage w'=22.
What is the optimal value of current consumption, c? Show all steps.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
The data in Accident.dta are the weekly automobile accident counts for the years 2006 and 2007 in Havana County. Determine the appropriate ARIMA model, and forecast the accident rate five weeks ahead from the forecast origin t = 85 (make a line plot ..
Illustrate what is the present value assuming a discount rate. Level of consumption or saving will be illustrate what.
We are all familiar with fluctuating prices of gasoline at the pump. Explain why does this happen.
Courts have almost always allowed companies to make employment decisions based on economics. For instance, even companies making money can lay off employees if it can be proven that the primary reason for so doing was economic (and as long as there i..
Suppose the inverse demand for an industry was given by P = 60 - 0.03Q. What price results from perfect competition in this market? How many units are sold in this market?
The following are the three research documents that play an important role in the monetary policy process and at Federal Open Market Committee except the. Among the research ?documents, the only book that is given to the public is the
If industries collude, Illustrate what will be monopoly cost (optimal cost P*), total output of two industries (Q= q1 + q2) and total profits of two industries.
Using the Classical Full-Employment Model, demonstrate via the three diagram setup (labor market, product market & capital market) the impact of: A refugee problem vis-à-vis the EU—European citizens, terrorized by the utter incompetence of their gove..
What is a likely reason for having trouble identifying a conclusion in what you hear or read? Which of the five items below is usually NOT a part of a good argumentative essay?
Now using the information on input prices also MR, Illustrate what is the optimal input combination.
A university spent $1.8 million to install solar panels atop a parking garage. These panels will have a capacity of 500kw, have a life expectancy of 20 years and suppose the discount rate is 10%. If efficient systems operate for 2400 hours per year, ..
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