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1. (Utility-Maximizing Conditions) Suppose that marginal util- ity of Good X = 100, the price of X is $10 per unit, and the price of Y is $5 per unit. Assuming that the consumer is in equilibrium and is consuming both X and Y, what must the marginal utility of Y be?
2. (Utility-Maximizing Conditions) Suppose that the price of X is twice the price of Y. You are a utility maximizer who allocates your budget between the two goods.What must be true about the equilibrium relationship between the marginal utility levels of the last unit consumed of each good? What must be true about the equilibrium relationship between the marginal utility levels of the last dollar spent on each good?
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If a nominal annual interest rate of 9.532% with continuous compounding is assumed, calculate the values and the payback period
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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 ..
please fill in the missing data for the blank lines 8 on the graph and then questions below.output
Sometimes market activities (production, buying and selling) have unintended positive or negative effects outside the market's scope. TI know that is an externality.
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What is the distinction between marginal cost and incremental cost and how are sunk costs treated in managerial decision-making? Why?
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