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a. Generally, there will be a difference between the CV and the EV. Why?
b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled.
what are the similarities and differences of marginal productivity and marginal utility
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Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc
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Assume in the Solow growth model that s=.25, n=.02, d=.08, and f(k)=k^3. A) Assume that z=2. What is the steady state level of capital per worker and consumption per worker?
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For each of the following scenarios, you use a SS & DD diagram to demonstrate the effect of a given shock on equilibrium price and quantity in specified competitive market. Explain
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