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Suppose at a bundle (c, d) in the interior of the choice set, your MU for each good is zero. you are rational.
A) You will consume some bundle on the budget line. true or false.
B) Tim Finnegan decided to drink whiskey for the first time in his life, while sitting on top of a ladder. but after drinking 5 glasses ( non of which make him sad ), the moment he drinks the 6th glass, he is drunk falls down and hurts his head (which make him sad). A glass of whiskey cost 1 tim has 100 in his pocket. the first dat tim tried this he is hurt. time is rationale of the second day will he drink the 6th glass or not ? Assume prefernces do not change over time.
C) Can you compare (a) with tim's situation ? explain how ?
Other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur?
The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000 kroner per year pays 40,000 kroner per year in income taxes; a person making 200,000 kroner per year pays 70,000 kroner per year in income taxes;
Illustrate the use the orange points square symbols to plot the portion of the supply curve that corresponds to prices where there is positive output.
You make monthly deposits of $1,000 in a bank starting at the end of month 1 and lasting 5 years (the last deposit is at the end of month 60). What is the future value of these deposits right after your last deposit? Assume the nominal annual interes..
Labor costs have been increasing at an annual rate of 10%. A firm wishes to set aside funds to cover labor costs for the next 5 years. Determine how much must be set aside today if the money will be invested and will earn interest at a rate of 10%. T..
The price elasticity for rice is estimated to be -0.4 and the income elasticity is 0.8. At a price of $0.40 per pound and a per capita income of $20,000, the demand for rice is 50 million tons per year. If per capita income increases to $20,500, what..
What are the four tenets of natural capitalism. Please explain and tell us which one is in your opinion the most crucial. Discuss ecological footprinting, what does it mean and what are its implications for a given society.
Although there seems to be a great demand for your bread, why would productivity decline when you hire more labor in the short run?
How can a compensation scheme designed to enhance worker motivation lead to this result.
Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact that each of the following would have on demand or supply. Please also show how equilibrium price and equilibrium quantity would change.
Which of the following is true of Ferdinand VII after his restoration to the Spanish throne in 1814? A He restricted freedoms and abolished the constitution of 1812 B He attempted to restore the Spanish empire in America, constitutional monarch was h..
Which of the following is an example of an autonomous agency of the United Nations? Which of the following is provided under the Foreign Sovereign Immunities Act? Throughout Christianity, divine and natural laws have been issued in the form of ______..
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