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Sometimes it is convenient to think about the consumer's problem in its "dual" form. This alternative approach asks how a person could achieve a given target level of utility at minimal cost.
Develop a graphical argument to show that this approach will yield the same choices for this consumer as would the utility-maximization approach.
Do a brief secondary investigation of a question of interest to you related to organizational culture, individual differences, or perceptions, attributions, and emotions. For your secondary investigation, you will review at least three scholarly r..
Solve for the elasticity of demand as a function of the market price. Draw this function for P [1/3, 2/3]. Suppose a (small) sales tax is imposed on potatoes. Would the burden of the tax fall mostly on consumers, mostly on producers, approximate..
What is equilibrium Y What are equilibrium consumption, private saving, public saving, and national saving How much does equilibrium income decrease when G is reduced to 200 What is the multiplier for government spending
Assume the U.S. economy begins in long-run equilibrium. Concerns about global climate change cause the government to significantly restrict the production of electricity form fossil fuels.
Use the red line (cross symbol) to draw the valuation, V, across the market. Use the orange line (square symbol) to draw the full price line for those who purchase from firm 1, i.e., the line showing the price paid by a consumer plus transport cos..
You are considering to save some money. Out of your yearly income you will deposit a fixed amount per semester at a nominal rate of 8 percent per year compounded each 6 months during 5 years.
An industry consists of three firms with identical costs C (q)18q +q2. What is the industry equilibrium (price, output and profits) if the firms have Cournot beliefs?
A government is recently operating with an annual budget deficit of $40 billion. The government has determined that;
Describe the benefits and costs of such a sweeping trade agreement. Consider the various countries involved (you do not have to look at all of them!) and what it means for first and third world nations to join in such an agreement.
What price should DD set to maximize profits? What would output be if DD acted like a perfect competitor and set P = MC?
As an employee of World Bank you've been asked to research the needs of a country with a particular economic concern.
Illustrate why do the Classical or Monetarist schools of economic thought maintain that monetary stimulus is doomed to be ineffective in the long run.
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