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Yesterday you were consuming 4 eggs and 2 strips of bacon. Today you are consuming 3 eggs and 3 strips of bacon. If you have the same taste what might have caused this change? Are you better or worse off?
Why are common borders and cultural similarities often an additional factor to determine who trades most with whom and why? Use your knowledge of the gravity model to justify your answer through two suitable examples.
ECON 301 Intermediate Microeconomics Assuming diminishing marginal utility and an indifference curve with Apples on the X axis and Cheese on the Y axis, fully explain how the slope of the indifference curve measures the relative value of the goods ..
Explain the factors of production and give an example for each one and what is the difference between a normal good and an inferior good? How does this relate to the demand curve
Office building maintenance plans call for stripping, waxing, and buffing of ceramic floor tiles. This work is often contracted out to office maintenance firms, and both technology and labor requirements are very basic.
After few years, cost of production of Panadol increased due to increase in price of paracetamol (one of the main ingredient used in the production of Panadol). Due to this increase people started using Disprine instead of Panadol.
What is the Sharpe ratio on a portfolio of US Stocks and what is the lowest value for such that these numbers from the data are consistent with equation (2)?
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
The owner of a flower shop needs a short-term loan to tide her business over until she completes the sale of some unused property.
Consider the utility function \(U(x,y) = y\sqrt{x}\) a)Does the consumer believe that more is better for each good? b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
Labor hours required to produce one unit of cloth in the united kingdom is 6. The labor hours required to produce one unit of cloth in the united states is 5. Which country has an absolute advantage of producint wheat In producing cloth
Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater than, less than, or equal to $10? How might you dete..
Insurance companies must provide insurance to drivers who may take risks that go unreported because they don't wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company).
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