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Danny is an investment banker and has income I = 300. When prices are px = 10 and
py = 20, Danny consumes the bundle (x; y) = (6; 12).
1. Illustrate Danny's budget constraint and optimal bundle.
2. Suppose that prices change to px = 20 and py = 10. Draw Danny's new budget constraint on the same set of axes as his original budget constraint.
3. Danny is a smart guy and always makes utility maximizing choices. According to revealed preference, which bundles on his new budget constraint will he definitely not consume?
In your own words, explain the following: a) affective aperture, b) array factor, c) Friis equation, d) Antenna H-plane and E-plane, e) radiation resistance
How much does GDP rise in each of the following scenarios: 1. During a recession, the government raises unemploymemnt benefits by $100 million. 2. A new US airline purchases
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Review the Federal Reserve Board website. Identify at least five key pieces of data (links) you would use in microeconomic decision making on the Web site, and tell what data that
While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.
Once Y is determined, almost all of the other variables are determined since they are either exogenous or they depend on Y. From Y we can determine C by consumption function, I m
full oligopoly chapter
A 415V, 3-phase, 4 wires, star-connected system supplies three resistive loads as shown in Figure. Determine (a) The current in each line and (b) The current in the neutr
Describe the meaning of word -Investment When we use the word investment, we generally mean "gross investment". Essentially, gross investment comprises all finished goods which
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