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EDPE 4056: Applied Microeconomics Program in Economics and Education Teachers College, Columbia University Prof. Francisco Rivera-Batiz Problem Set 1 Please answer all of the fol
First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person. Second Degree Price Discriminat
indifference curve for the demand for big macs
What are the properties of cost function? Properties of Cost Functions: Some similarities are here with consumer theory. Such similarities are actually exact while one compa
Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
price quantity 10 60 20 70 30 90 40 110 50 130 derived a supply function for the relation between price and quantity
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
What does economic theory contribute to managerial economics? Explain
Explain how automatic (fiscal) stabilisers may help to lower fluctuations in the business cycle. Definition of automatic stabilisers as built-in to the system in terms of trans
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