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Consider the following preference: Paul likes both pasta and sandwiches. He thinks that two plates of pasta are always as good as three sandwiches. Assuming that x1 and x2 are the consumptions of pasta and sandwiches, respectively. The income is m and the prices are p1 and p2, respectively.
Write down a utility function that can represent Paul's preference.
Derive the ordinary demand functions for both x1 and x2.
Draw p2-price offer curve.
However debt and the paying of interest is very common now. Is borrowing Biblically forbidden? What is the brief history of Christianity and interest, borrowing and banking in general? Should Christians lend or borrow?
Use the Lagrange method to solve for David's optimal choices of gasoline and bread as a function of the price of gasoline, PG, the price of bread, PB, and his income Y. b. If the price of gasoline increases, does David reduce his consumption of..
a) What are the social benefits of curbing/abatement of pollution? b) What are the social cost of curbing/abatement of pollution (yes, there are some)?
Explain how would an increase in the present rate of oil affect the time of development if the rate of price increase in the future remains at 2%.
The following model is a simplified version of the multiple regression model used by Biddle and Hamermesh (1990) to study the tradeoff between time spent sleeping and working and to look at other factors affecting sleep: sleep =b0 + b1totwrk + b2e..
1. an anticipated change is an economic occurrence thatnbspnbsp a.nbspnbspnbsp catches most people by surprise.nbspnbsp
For a developing country to grow, it needs capital. The major source of capital in most countries is domestic saving, but the goal of stimulating domestic saving usually is in conflict with government policies aimed at reducing inequality
economists generally agree that high budget deficits today will reduce the growth rate of the economy in the future.
Assume a merger of company would simultaneously lessen competition and reduce unit costs through economies of scale.
Visit the website ofthese three state administrative agencies. Write a short explanation of how these regulations create compliance requirements for businesses.
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q4 = 1,000 P and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour.
How do you think the Dust Bowl and the economic downturn impacted each other? Why? Do you think another Dust Bowl could generate a depression?
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