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Directions: Find a current article in the Rasmussen library from the last year that describes the supply and demand of a good or service. In a couple of paragraphs, please address the questions below in your initial post.
Adam has $38 and he decides to spend on X1 and X2. Commodity one costs $5 per unit and commodity two costs $11 per unit. His utility function is U(X1,X2)= min(3X1,X2). Write down the budget line.
The sales director for an industrial supplies firm has collected information describing the performance also personal characteristics of 80 members of her sales force.
What is the quantity that maximizes profit? What is the revenue and profit at that point? What is the quantity that maximizes revenue? What is the revenue and profit at that point?
1.What happens to the MRTS as labour increases and capital decreases? In words why is this?
If you were desinging such an amendment, do you think it would be better to require that the actual budget deficit be kept at zero each year, or should the aim be only to keep the structural deficit at zero? Discuss.
Suppose the investment demand function changes and is now I=700 – 50(r). The new value of equilibrium output is
Note that Tulip growing is a “perfectly” competitive industry, and all tulip growers have the same cost curves (or schedule) with the standard U shaped Average Total Cost curve. The market price of tulip is $15 a bunch, and each grower maximizes prof..
Why is the "power of the purse" an important component of political power? Which of the following was NOT considered a weakness of the Articles of Confederation? Which of the following concepts is most closely associated with John Locke? The U.S. Con..
Which of the following is not investment spending?
A sprinkler system inside of one house does not protect houses on the other side of town. It also requires the homeowner to purchase and install it prior to benefiting from it. Once installed it can help stop fires from jumping to neighboring homes.
The difference between the minimum amount that producers would be willing sell their products for and the actual amount they receive
Suppose a consumers preferences for goods x & y can be described by the utility function u(x,y)=[AX^R+BY^R]^(1/R), where A & B are positive numbers & R is a negative or positive number. show that as R approaches 0 this utility function is associated ..
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