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Let X ∈ [0, 10] and y = f(x) = cx with c > 0.
a) What is the slope of f(x)? Is it constant or it depends on x?
b) What is the value of f(x) when x = 3?
c) Define g(x) = bx where b > 0 and b < c. What values of x makes g(x) = f(x).
d) Suppose c = 2 and define g(x) = x^2 . For what values of x we have g(x) > f(x)? (Be precise!)
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
When a firm has the opportunity to add a project that will utilize excess factory capacity (that is currently not being used), which costs should be used to help determine if the added project should be undertaken?
In a particular industry, labor supply is ES=20+w and labor demand is E D=60-4w , where E is the employment level and w is the hourly wage. What are the equilibrium wage and employment if the labor market is competitive?
Use indifference analysis to demonstrate the income, substitution also the total effects if good X is a non-Griffin inferior one.
q1. which of the following market transactions of final goods and services are excluded from the computation of u.s
sometimes a bidder on a work contract may bid lower than what would maximize hisher profit from the contract and the
Explain why each of the following example is not a perfectyl compertitive industry
Why do you suppose R was included in the equation as a variable? If you were a supplier to the furniture manufacturer.
A movement upward and to the left along a demand curve is called a(n)
George and Ellen operate a business and make a profit. Is this good or bad? Would it have been better if they had made a loss? Explain. How do people earn income? If you purse a career and become incredibly rich, have you done so at the expense of ot..
Why would it be valuable for a business to know cross elasticity of demand for two products it produces: peanuts and popcorn.
You make monthly deposits of $1,000 in a bank starting at the end of month 1 and lasting 5 years (the last deposit is at the end of month 60). What is the future value of these deposits right after your last deposit? Assume the nominal annual interes..
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