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If the MU of the 1st unit consumed = 75 utils, and the TU of consuming 2 units is 130 utils, what is the marginal utility of the second unit?
Florida citrus mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the
Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produ
If the quantity demanded of Pepsi Cola goes up, and its supply enhances what will occur in the market for Pepsi?
#questAbout four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for genera
what is an iso curve
Define the term “cross elasticity of demand” (2 marks) Price of commodity X (SH) Demand for commodity X (Units) 12 80 16 100 20 120 24 140 28 160 d) The following data relate to a
The government has undertaken a highway bridge project that was originally projected to cost $2 million and provide benefits of $2.5 million. Unfortunately, the costs have been mu
What is the difference between economics and business? Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and
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