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How economic theory explain optimum pattern of consumption for an individual consumer
When Alex's income increased from $3,000 to $5,000, he increased his consumption of bagels from 4 to 8 a month and decreased his consumption of donuts from 12 to 6 a month. Calcula
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
define economics in plural sense. .
Syndicated and organized oligopoly
Processors of aseptically packaged juice-based beverages must adequately heat their product before packaging it in order to be sure that they have “killed” the microorganisms which
Should the manufacture, supply and use of tobacco be criminalised? Provide arguments for and/or against (relates to defining crime; concepts of deviance etc) Examine t
How many hours will an individual allocate to leisure if their indifference curves between consumption goods and leisure are concave to the origin? Show in figures and explain in
Assume that a persion lives for three equal periods: Youth, Early Adulthood and Late Adulthood. The person dies after later adulthood period ends. If one invests $200 in educatio
Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
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