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suppose thurston, a color blind consumer, has 80$ to spend on either lime green or pink sweater. Thurston does not care what color sweater her wears but deems it very important to buy as many sweater as possible with the 80 $. Pink sweater cost 20$ and lime green cost 40$.a) draw Thurston's bugdet line and indifference map. What is Thurston's optimal consumption choice?b)A sale on pink sweaters begins: if a consumer buys two pink sweaters at a regular peice, he can get two additional pink sweaters for free. Two pink sweaters must be purchased to get the deal. Otherwise prices are unchanged. With the sale, depict Thurston's new budget line and preffered consumption choice.
Design a simple econometric research project
Multiplicative decomposition method
The Australian government administers two programs that affect the market for cigarettes.
Solve the forecast model
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Determine when a competitively produced product generates negative externalities in production, the industry will,
Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
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