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Max has a utility function U(x, y) = 2xy + 1. The prices of x and y are both $1 and Max has an income of $20.
a. How much of each good will he demand?
b. A tax is placed on x so that x now costs Max $2 while his income and the price of y stay the same. How much of good x does he now demand?
c. Would Max be as well off as he was before the tax if when the tax was imposed, his income rose by an amount equal to $1 times the answer to part (b)?
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On Juan's twenty-sixth birthday, he deposited $6,000 in a retirement account. Each year thereafter, he deposited $1,000 more than the previous year. Using a gradient series factor,determine how much was in the account immediately after his thirty-f..
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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.
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X and Y are two random variables. The average value of X is 40,000 and X has a standard deviation of 12,000. The average value of Y is 45,000 and the standard deviation of Y is 18,000. The correlation between X and Y is 0.80.
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