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Tony loves philosophy books and candy bars. When comparing two bundles Tony always chooses the bundle with more philosophy books regardless of the number of candy bars. However, when two bundles have equal philosophy books he chooses the one with more candy bars. Model his preferences.
Smith Services, Inc., was a corporation solely owned by Tony Smith. Bear, Inc., owned and operated Laker Express, a fueling station in Kentucky. Smith charged fuel to an account at Laker Express and owed approximately $35,000. There was no written ag..
The sales manager for ABC Electronics wants to maximize his profit on the sale of two portable media player models, JVD-2000 and MDP-72. The wholesale costs of these models are $310 and $100 per unit respectively. The retail sales prices are $420 and..
Was there anything that you learned that could be applied to career development or your potential job interviews with the use of a portfolio?
In a two–player, one shot simultaneous – move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $500. If both players choose strategy B, each earns a payoff of $100. If player one chooses ..
is this the same quantity that the competitive market would have provided in equilibrium? What are the market forces leading to this quantity?
The relative price rule is equivalent to saying the marginal utility per dollar is the same for both goods, or goods should be consumed in the same ra5tion as their relative price.
Why are bargaining unit determinations of crucial significance in representational election outcomes and the longer-terrn relationships between the parties? Discuss.
In the 1990's, helped by desktop publishing software that proliferated during that time, the number of vintage baseball card forgeries flooded the market for vintage baseball cards. Dealers left the market for fear of purchasing a phony. What was the..
The US market of rice is described by the following domestic supply and demand equations: QdUS = 200 – 2 P , QsUS = -100 + 3 P where QdUS and QsUS represent the quantities demanded and supplied (in millions of tons) and P is the price per ton of rice..
We can modify the inter period allocation model to deal with the issue of intergenerational allocation of resources. Suppose a generation is thirty-five, and we are concerned with only two generations. Demand and supply functions for oil in the prese..
Assume that a piece of equipment has a replacement cost of $10,000 and an 8-year life. Calculate its annualized cost at an interest rate of 15%. Show your calculations.
Consider the Solow model without technological progress (A= 1). The production function is given by y=k1/2, the savings rate is 30%, the population growth rate is 2% and the depreciation rate is 10%. What are the long run levels of capital, income an..
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