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1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
Derivation Of Ordinary Demand Function: Suppose, and q 1 = (Q 1 1 , Q 2 1 ,..., Q n 1 )T. Let M0 be the money income and p 0 q 0 = M 0 and p 0 q 0 ≥ p 0 q 1 , where p
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
what is the effect on the market for dvd players if the price of dvd rises
What are the properties of indirect utility function? Properties of the indirect utility function: While u(x) is continuous and monotonic onto R L + and (p, m) > 0, the in
yt =a+fyt-1 +ut, ut =et +?et-1, where et is independent white noise assume the process is stationary. Will OLS generally provide you with consis- tent point estimates of f? Can y
scope of microeconomics
Meaning of absolute cost difference and comparative cost difference.
Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the
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