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Steve consumes oranges and peanut butter sandwiches and is currently maximizing his utility. The marginal utility of the last orange is 15 and the marginal utility of the last peanut butter sandwich is 35. If the price of a peanut butter sandwich is $ 2.50, then what is the price of an orange?
Firms 1 and 2 produce horizontally differentiated products. The demand for firm 1's product is given by the equation,
Why would China want its own currency to be undervalued relative to the U.S. dollar? How does china maintain an undervalue currency?
How would an increase in consumption spending affect an economy's equilibrium GDP and aggregate price level?
Why do we care about the rate of return to education?
Would Ricardo agree or disagree with Adam Smiths concept of invisible hand? Please Explain.
If there is an inflationary gap, the market will transition to long run equilibrium by. If the price level rises and the money wage rate remains constant, the quantity of real GDP supplied ______ and there is a movement up along the______ aggregate s..
What is the rational spending rulen and how does it apply in real life.
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
Nature's Green, Inc., a manufacturer of alfalfa tablets sold in health-food stores, currently operates just outside of Meno, California. Nature's Green is considering two alternative proposals for expansion, because it has run out of acreage to grow ..
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries. What weakness does this measure have.
Determine the net present value of the stream of profits, i.e., discounted profits in year 1, year 2, year 3 less the cost of the deal.
You work for Segway, in the sales division of the Drift W1 (which are basically motorized roller skates). You've traveled into the future
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